A Service For Professionals Friday, September 22, 2017
Contact (202) 540-8337

Patents and Trademarks Today

A Service For Professionals Friday, September 22, 2017 11605 Sources 405,462,313 Articles 3,235,762 Readers
Contact (202) 540-8337

Breaking News

< >

IMPORTANT ZTO EXPRESS (CAYMAN), INC. INVESTOR REMINDER: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that it has filed a securities class action lawsuit in the United States District Court for the Southern District of New York…

Lead Plaintiff Deadline is October 16, 2017

NEW YORK, Sept. 12, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that it has filed a federal securities class action lawsuit on behalf of all persons or entitles who purchased the common stock of ZTO Express (Cayman), Inc. (NYSE:ZTO) (“ZTO”) pursuant to the Registration Statement and Prospectus issued in connection with the Company’s initial public offering (“IPO”). The lawsuit is pending in the United States District Court for the Southern District of New York and seeks to recover damages under the federal securities laws for those who purchased or otherwise acquired ZTO Express’ stock pursuant or traceable to its October 27, 2016 IPO.

Investors who have incurred  losses  in  ZTO Express (Cayman), Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If   you   have purchased  shares  of ZTO Express (Cayman), Inc. and would like to assist with the litigation process as a lead plaintiff,  you may, no  later than October 16, 2017, request that the Court appoint you lead plaintiff of the proposed class.

The lawsuit charges that ZTO, certain of its directors and officers, and underwriters of its IPO violated Sections 11, 12, and 15 of the Securities Act of 1933. Defendants priced ZTO’s IPO shares at $19.50 per share.  Through the IPO, defendants issued and sold over 72 million ADSs, generating over $1.36 billion for defendants.

The lawsuit alleges that the IPO Registration Statement and Prospectus contained materially false and misleading information, and failed to disclose that ZTO was improperly inflating its stated profit margins by keeping certain low-margin segments of its business out of its financial statements. ZTO failed to disclose that it used a system of “network partners” to handle lower-margin pickup and delivery services, while maintaining ownership of core hub operations.  By keeping the “network partners” businesses off its own books, the Company allegedly was able to exaggerate its profit margins to investors.

Subsequent to the IPO, ZTO Express’ stock declined immediately.  As of August 16, 2017, the stock was trading at just $13.57 – a decline of over 30% from the IPO price.   

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

## Follow the firm and learn about newly filed cases on Twitter and Facebook. ##

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

Attorney Advertising. Prior results do not guarantee or predict a similar outcome.

/EIN News/ -- Primary Logo

Powered by EIN News
Distribution channels: Consumer Goods, Law
Submit your press release