Singapore markets closed
  • Straits Times Index

    3,246.33
    -13.70 (-0.42%)
     
  • Nikkei

    26,717.34
    +547.04 (+2.09%)
     
  • Hang Seng

    23,550.08
    -256.92 (-1.08%)
     
  • FTSE 100

    7,466.07
    -88.24 (-1.17%)
     
  • BTC-USD

    37,789.08
    +438.63 (+1.17%)
     
  • CMC Crypto 200

    863.83
    +21.37 (+2.54%)
     
  • S&P 500

    4,431.85
    +105.34 (+2.43%)
     
  • Dow

    34,725.47
    +564.69 (+1.65%)
     
  • Nasdaq

    13,770.57
    +417.79 (+3.13%)
     
  • Gold

    1,790.10
    -3.00 (-0.17%)
     
  • Crude Oil

    87.29
    +0.68 (+0.79%)
     
  • 10-Yr Bond

    1.7820
    -0.0250 (-1.38%)
     
  • FTSE Bursa Malaysia

    1,520.02
    +4.03 (+0.27%)
     
  • Jakarta Composite Index

    6,645.51
    +34.35 (+0.52%)
     
  • PSE Index

    7,251.97
    -21.55 (-0.30%)
     

Zhangmen Education Inc. Shareholder Alert: Robbins LLP Reminds Investors that Zhangmen Education Inc. (ZME) is Being Sued for Misleading Shareholders

  • Oops!
    Something went wrong.
    Please try again later.
·2-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • ZME

SAN DIEGO, November 30, 2021--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP reminds investors that a class action was filed on behalf of all persons and entities that purchased Zhangmen Education Inc. (NYSE: ZME) American Depository Shares ("ADSs") pursuant to the Company's June 2021 initial public offering ("IPO"). Zhangmen is an education company focused on providing personalized online courses to K-12 students in China.

If you suffered a loss due to Zhangmen Education Inc.'s misconduct, click here.

Zhangmen Education Inc. (ZME) Made False and Misleading Statements in its Offering Materials Supporting its IPO

According to the complaint, Zhangmen filed its Prospectus, which forms part of the Registration Statement for the IPO, with the Securities & Exchange Commission, offering 3.623 million ADSs at $11.50 per ADS. However, defendants failed to disclose that prior to the IPO, China had adopted stringent new regulations aimed at curbing fraud in China's online education market. This sweeping crackdown on the Chinese tutoring industry would effectively ban profit-making in the sector, essentially destroying Zhangmen's business and prospects.

On July 23, 2021, China unveiled its overhaul of the education sector, banning companies that teach school curriculum from making profits, raising capital, or going public. Zhangmen's ADSs trade at less than $1.50 per ADS.

If you purchased Zhangmen Education Inc. (ZME) ADSs pursuant to the Company's June 2021 IPO, you have until January 18, 2022, to ask the court to appoint you lead plaintiff for the class.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

Contact us to learn more:

Aaron Dumas
(800) 350-6003
adumas@robbinsllp.com
Shareholder Information Form

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Zhangmen Education Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211129005781/en/

Contacts

Aaron Dumas
Robbins LLP
5040 Shoreham Place
San Diego, CA 92122
adumas@robbinsllp.com
(800) 350-6003
www.robbinsllp.com

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting