{"id":460885,"date":"2021-03-18T11:33:30","date_gmt":"2021-03-18T15:33:30","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=460885"},"modified":"2021-03-18T11:33:30","modified_gmt":"2021-03-18T15:33:30","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-jianpu-technology-inc-jt-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-jianpu-technology-inc-jt-2\/","title":{"rendered":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Jianpu Technology, Inc. (JT)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">LOS ANGELES, March  18, 2021  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=pGZynvSOBOc9vHYJqhWx1qgggeBor5utV7m3TT5JnjRzu-N3bASbOuK2iR8a-iklHBMlbUepM0Ad-XTv8PeodR2X78khwInelXMJFxUS-1c=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Glancy Prongay &amp; Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming\u00a0<strong>April<\/strong><strong> 19, 2021<\/strong><strong>\u00a0<\/strong>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Jianpu Technology, Inc. (\u201cJianpu\u201d or the \u201cCompany\u201d) (NYSE: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=L9osswZ8VM_f8PvhHKG8Hu-WecWHXVRsMLJ6RtQqoVDhDCtZELGLOdVXf_ah05YSwfCY8s72K46Hks9ovsGhyQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">JT<\/a>) American Depositary Shares (\u201cADSs\u201d or \u201cshares\u201d) between <strong>May 29, 2018 and <\/strong><strong>February 16, 2021<\/strong>, inclusive (the \u201cClass Period\u201d).<\/p>\n<p>If you suffered a loss on your Jianpu investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=zsU2DsiikTxPYq4HmwFo_6ShikCtRXYRPpceQxaPS0OAzvcivn3rDCmvDCSkhz1QJSlE1h2FERpF63iUGSQfCiA6F02GdpsiOYvwB3EGmmz5Ug8AH0eka4vhNsTTOqHZaOmCTH4wL_Y68pUEsNM5gAcyt2kz8I6M1hzE8f4IQn9A8NYJfPIIyhRmYSRRbMBK\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.glancylaw.com\/cases\/jianpu-technology-inc\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1xYCHJ_WhmwpqBkkeiczisgDXAvFn0Rfq4A257b9rAQoP4Q6OjgM94oUNvm91tpxk75_uyL3rJS5HHSxZJvlJPdjq0sL0CMRawL0meR8aQnXjH_aWxzf2-Yspe72kyPz\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n<p>On February 16, 2021, Jianpu announced the results of its review into \u201ctransactions carried out by the Credit Card Recommendation Business Unit\u201d with third-party business entities. The Company concluded that previously reported revenue and associated expenses had been inflated due to \u201ccertain transactions [that] involved third-party agents (including both upstream agents and downstream suppliers) with undisclosed relationships and some transactions [that] lacked business substance.\u201d Jianpu stated that it \u201canticipates the total amount of overstated revenue for the fiscal years 2018 and 2019 to be approximately, RMB 90 million and RMB 164 million, respectively, representing approximately 4.5% and 10.1% of the total revenue previously reported.\u201d<\/p>\n<p>On this news, the Company\u2019s share price fell $0.60, or 13%, to close at $3.94 per share on February 16, 2021, on unusually heavy trading volume.<\/p>\n<p>The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that certain of the Company\u2019s transactions carried out by the Credit Card Recommendation Business Unit involved undisclosed relationships or lacked business substance; (2) that, as a result, Jianpu\u2019s revenue and costs and expenses for fiscal 2018 and 2019 were overstated; (3) that there were material weaknesses in Jianpu\u2019s internal control over financial reporting; (4) that, as a result of the foregoing, the Company\u2019s fiscal 2018 Form 20-F was reasonably likely to be restated; and (5) that, as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n<p>Follow us for updates on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=146ceNbCKJkS_YhwWK13ZMG0EdlTKOSxA8G4M_EJNuqXWYHWw_gjgwGhpDY3-yQ7a1USDnXQtvWVRKNbCBRn9q0FjCxg8n-0X4cTwQPCJczrI3g4xdeADa3oOGbHP--i\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">LinkedIn<\/a>, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=BeCdpDdbV-5-qBYSVlzxNFSPGUM7Lcd00UPMjMHlS7HmurSFHZaiP9lk7XvXOUeBOGnMVPoFPpx1gL0MXyyK8g==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Twitter<\/a>, or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Jox1zjHeU74lE7qG2W2mBStoc1jyUjqrqwgX-04SUnrKYru1xv2ZhfDvloTvC7XGLFufmcr3miAxvotAkf8jcUavqHqXBuySDd5oN21gNfo=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Facebook<\/a>.<\/p>\n<p>If you purchased or otherwise acquired Jianpu ADSs during the Class Period, you may move the Court no later than\u00a0<strong>April 19, 2021 <\/strong>to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to\u00a0learn more\u00a0about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1xYCHJ_WhmwpqBkkeiczisgDXAvFn0Rfq4A257b9rAS3zLBDTkwm74D1xIzAS2dWfZp9uc7URB8Ut75B3ewuo239PQ8d23oCVbDVhCgfOyp8DqbcIsP7RrpstPU5YEbf\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a>, or visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-bpgTZOhqjK-ks_q4pjsAywKGCtLQH0rzrjtS6me6sQmyoB-vGsjNPaHi6_3p4YGNZZ0S6qRKAqqScmpFZyssw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.<\/p>\n<p>This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p>\n        <strong>Contacts <\/strong><br \/>\n        <br \/>Glancy Prongay &amp; Murray LLP, Los Angeles <br \/>Charles Linehan, 310-201-9150 or 888-773-9224 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1xYCHJ_WhmwpqBkkeiczisgDXAvFn0Rfq4A257b9rATVCGu3_MPeELfTiflLhXw0ecuX3lFuUwqcuMkNeQxeEwhw0-wwStCLHQkYfR2g7SjYtgIESEnAhRg83GQd7MGT\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-bpgTZOhqjK-ks_q4pjsA5sDrhLZOeUnpwhz-6z7PZZPGA8hvkTyVfAOgZKmAzY_qCv5ZzkJEbkMO689HdkE0g==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a><\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE5MjUyOSM0MDcwMTcyIzIwMTcyOTE=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/3ec93bf7-2113-4532-a057-713814f63acb\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LOS ANGELES, March 18, 2021 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0April 19, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Jianpu Technology, Inc. (\u201cJianpu\u201d or the \u201cCompany\u201d) (NYSE: JT) American Depositary Shares (\u201cADSs\u201d or \u201cshares\u201d) between May 29, 2018 and February 16, 2021, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Jianpu investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/jianpu-technology-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-jianpu-technology-inc-jt-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Jianpu Technology, Inc. (JT)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-460885","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Jianpu Technology, Inc. (JT) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-jianpu-technology-inc-jt-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Jianpu Technology, Inc. (JT) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LOS ANGELES, March 18, 2021 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0April 19, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Jianpu Technology, Inc. (\u201cJianpu\u201d or the \u201cCompany\u201d) (NYSE: JT) American Depositary Shares (\u201cADSs\u201d or \u201cshares\u201d) between May 29, 2018 and February 16, 2021, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Jianpu investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/jianpu-technology-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email &hellip; Continue reading &quot;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Jianpu Technology, Inc. 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(\u201cJianpu\u201d or the \u201cCompany\u201d) (NYSE: JT) American Depositary Shares (\u201cADSs\u201d or \u201cshares\u201d) between May 29, 2018 and February 16, 2021, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Jianpu investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/jianpu-technology-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email &hellip; Continue reading \"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Jianpu Technology, Inc. (JT)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-jianpu-technology-inc-jt-2\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-18T15:33:30+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE5MjUyOSM0MDcwMTcyIzIwMTcyOTE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-jianpu-technology-inc-jt-2\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-jianpu-technology-inc-jt-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Jianpu Technology, Inc. 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