NEW YORK, March 08, 2021 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Jianpu Technology Inc. (“Jianpu” or the “Company”) (NYSE: JT). A complaint has been filed on behalf of investors who purchased Jianpu American Depositary Shares (“ADSs”) between May 29, 2018 and February 16, 2021 (the “Class Period”).
On February 16, 2021, Jianpu announced that an Audit Committee review found "certain transactions involved third-party agents . . . with undisclosed relationships, and some transactions lacked business substance. . . .” Jianpu also advised that, "certain revenue and associated expenses were inflated or inaccurately recorded" in financial statements for fiscal years 2018 and 2019, and that "certain employees improperly altered supporting documents that were provided to the Company's external auditor." Jianpu concluded that "the previously issued audited financial statements for the fiscal year 2018 and the auditor's report can no longer be relied upon" and would be restated, and that "investors must exercise caution when using the Company's previously announced unaudited financial information for the fiscal year 2019."
Following this news, Jianpu’s ADSs fell $0.60 per ADS, or 13.22%, to close at $3.94 per ADS on February 16, 2021.
If you are a member of the proposed Class, you may move the court no later than April 19, 2021 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
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Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: dhall@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com