NEW ORLEANS, Oct. 06, 2017 (GLOBE NEWSWIRE/Korea IT Times) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until October 16, 2017 to file lead plaintiff applications in a securities class action lawsuit against ZTO Express (Cayman), Inc. (NYSE:ZTO), if they purchased the Company’s American Depositary Shares (“ADSs”) pursuant to its October 27, 2016 initial public offering (“IPO”). This action is pending in the United States District Court for the Southern District of New York.
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ZTO Express investors should visit us at https://www.claimsfiler.com/cases/new-york-se-zto or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
ZTO and certain of its executives are charged with failing to disclose material information in its Registration Statement filed in connection with its IPO, violating federal securities laws.
On October 27, 2016, ZTO conducted its IPO having previously filed its Registration Statement with the SEC. However, ZTO failed to disclose adverse material facts in its Statement involving the Company’s use of its “network partner” businesses for low-margin shipping services, which businesses were not maintained on its books, and which caused ZTO’s profit margins to be inflated.
Since the IPO, the price of ZTO’s shares has fallen significantly.
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