NEW YORK, Sept. 20, 2017 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in ZTO Express (Cayman) Inc. (“ZTO” or the “Company”) (NYSE: ZTO ) of the October 16, 2017 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you purchased or otherwise acquired ZTO securities pursuant and/or traceable to the Company’s initial public offering on or about October 27, 2016 (the “IPO”), and would like to discuss your legal rights, click here : www.faruqilaw.com/ZTO . There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com .
CONTACT: FARUQI & FARUQI, LLP 685 Third Avenue, 26 th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. rgonnello@faruqilaw.com Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased or otherwise acquired ZTO securities pursuant and/or traceable to the Company’s IPO. The case, Nurlybayev v. ZTO Express (Cayman) Inc. et al . No. 1:17-cv-06130 was filed on August 14, 2017, and has been assigned to Judge Laura Taylor Swain.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing 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. Specifically, the complaint alleges that ZTO 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 exaggerated its profit margins to investors.
Since ZTO conducted its IPO on October 27, 2016, the Company’s ADS price has declined.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding ZTO’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
