SAN DIEGO, CA / ACCESSWIRE / December 6, 2021 / Shareholder rights law firm Robbins LLP reminds investors that a class action lawsuit has been filed on behalf of all individuals and entities who have purchased U.S. depository shares of Zhangmen Education Inc. (NYSE: ZME) (âADSâ) pursuant to the Company’s initial public offering in June 2021 (âIPOâ). Zhangmen is an educational enterprise specializing in providing personalized online courses for Kindergarten to Grade 12 students in China.
If you have suffered a loss as a result of Zhangmen Education Inc.’s misconduct, click here.
Zhangmen Education Inc. (ZME) has made false and misleading statements in its offering documents in support of its IPO
According to the complaint, Zhangmen went public in June 2021, offering 3.623 million ADS at $ 11.50 per ADS. On July 23, 2021, China unveiled its overhaul of the education sector, prohibiting companies that teach school programs from making a profit, raising capital, or going public. This sweeping crackdown on the Chinese tutoring industry would effectively ban profits in the industry, essentially destroying Zhangmen’s business and prospects. On July 26, 2021, Zhangmen issued a statement indicating that the new guidelines would likely “have significant impacts on our existing business operations, financial condition and corporate structure.” Zhangmen’s ADSs are now trading at less than $ 1.50 a share.
If you purchased Zhangmen Education Inc. (ZME) ADS as part of the Company’s June 2021 IPO, you have until January 18, 2022 to ask the court to name you as the class lead plaintiff.
Any representation is on the basis of contingency fees. Shareholders pay no fees or expenses.
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About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP are dedicated to helping shareholders recover their losses, improve corporate governance structures, and hold top executives. company responsible for their wrongdoing since 2002. To be notified of a class action lawsuit against Zhangmen Education Inc. rule or to receive free alerts when company executives commit wrongdoing, join Stock Watch today .
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THE SOURCE: Robbins LLP
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