NEW YORK--(BUSINESS WIRE)-- Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, reminds investors that October 16, 2017, is the deadline for interested investors to move to be the lead plaintiff in the federal securities class action pending against ZTO Express (Cayman) Inc. (“ZTO” or the “Company”) (NYSE:ZTO), certain of its officers and directors, and the underwriters of its Initial Public Offering (“IPO”). If you purchased ZTO American Depository Shares (“ADS”) in or traceable to the Company’s October 27, 2016 IPO, you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for more information.
ZTO is an express delivery company in China. On October 27, 2016, ZTO conducted its IPO pursuant to a Registration Statement filed with the Securities and Exchange Commission (“SEC”). ZTO ADS were priced at $19.50 at the time of the IPO.
The class action alleges that ZTO failed to disclose adverse material facts involving the Company’s use of “network partner” businesses for low-margin shipping services – businesses which were not maintained on its books, and which caused ZTO’s profit margins to be inflated.
At the time of this writing, the price of ZTO ADS is approximately 20% below the IPO price.
What You Can Do
If you purchased ZTO ADS in or traceable to the Company’s IPO and you wish to discuss this lawsuit, or have questions about this notice or your legal rights, please contact attorney Rhiana Swartz at (844) 818-6980, or at firstname.lastname@example.org. The deadline to move for Lead Plaintiff status is October 16, 2017.
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.
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Source: Scott+Scott, Attorneys at Law, LLP