SAN DIEGO, Aug. 29, 2017 (GLOBE NEWSWIRE) -- Bottini & Bottini, Inc., a law firm specializing in securities litigation, has filed a class-action lawsuit on behalf of all persons who purchased, on any United States-based stock exchanges, the common stock of ZTO Express (Cayman), Inc. (NYSE:ZTO) pursuant to the Registration Statement and Prospectus issued in connection with ZTO’s initial public offering (“IPO”). The lawsuit—pending in federal court in New York—seeks to recover damages for persons who purchased ZTO’s stock pursuant or traceable to its October 2016 IPO.
The lawsuit charges that ZTO, certain of its directors and officers, and underwriters of its IPO violated the United States securities laws by failing to disclose, among other things, that ZTO inflated its stated profit margins by (1) keeping certain low-margin segments of its business out of its financial statements; and (2) using a system of “network partners” to handle lower-margin pickup and delivery services and thus keeping the “network partners” businesses off its books.
The price of ZTO’s stock declined immediately following the IPO. As of August 11, 2017, the stock was trading at just $13.25—a decline of over 32% from the IPO price.
Purchasers of ZTO stock who wish to serve as lead plaintiff in this lawsuit must apply to the court for lead-plaintiff appointment no later than October 16, 2017. If you purchased ZTO’s stock on a United States-based stock exchange in connection with its IPO, please contact plaintiff’s counsel, Albert Y. Chang, Esq. of Bottini & Bottini, at (858) 914-2001 or achang@bottinilaw.com.
Bottini & Bottini is representing investors on a contingency-fee basis, and thus investors are not responsible for any attorneys’ fees or expenses unless the case is successful.
If you wish to join the ZTO litigation or discuss your rights and interests in this lawsuit, contact:
Bottini & Bottini, Inc.
Albert Y. Chang, Esq.
Email: achang@bottinilaw.com
Telephone: (858) 914-2001
Facsimile: (858) 914-2002
Website: www.bottinilaw.com