Scott+Scott Attorneys at Law LLP (Scott+Scott), a national shareholder and consumer rights litigation firm, reminds investors that a class action lawsuit has been filed against Jianpu Technology Inc. (Jianpu or the Company) (NYSE: JT) and other defendants, related to alleged violations of federal securities laws. If you purchased Jianpu American Depository Shares (ADS) in and/or traceable to the Companys initial public offering (the IPO) on or about November 16, 2017, you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for more information.
Jianpu is a Chinese fintech company (termed the Bankrate of China) that primarily generates revenue though a mobile platform that recommends loans underwritten by Chinese subprime lenders, such as Qudian Inc. (Qudian), PPDAI Group Inc. (PPDAI), and others.
Jianpu held its IPO on November 16, 2017, at $8.00 per share. Just two business days later, on November 21, 2017, Chinese regulators issued an administrative order banning the issuance of new online peer-to-peer lending licenses, citing improper and illegal practices by typical Jianpu lenders such as Qudian and PPDAI, including extremely high-interest rates, illegal collections, and lack of risk management.
On this news, the price of Jianpu ADS dropped over 33%, from a close of $7.40 per share on November 20, 2017 down to a close of $4.90 per share on Nov. 24, 2017.
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If you purchased Jianpu ADS in and/or traceable to the Companys IPO on or about November 16, 2017, or if you have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at [email protected]. The lead plaintiff deadline is December 24, 2018.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.