New York, New York–(Newsfile Corp. – November 26, 2021) – The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders of Zhangmen Education Inc. (NYSE: ZME).
Shareholders who purchased shares of ZME during the class period listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
CONTACT US HERE:
This lawsuit is on behalf of all those who purchased or otherwise acquired the American Depositary Shares of Zhangmen in or traceable to the Company’s initial public offering, conducted on or about June 8, 2021, pursuant to the IPO prospectus.
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) People’s Republic of China authorities were in the process of implementing sweeping new regulatory reforms on the private education industry in China including, among others, prohibitions on (i) profit-making by private education companies, (ii) engaging in core-curriculum tutoring on weekends and vacations, and (iii) capital-raising by companies like Zhangmen; (b) the known risks, events and uncertainties noted in (a) above were reasonably likely to have a material adverse effect on the Company’s business; and (c) based on the foregoing, the statements in the Registration Statement concerning the Company’s historical financial performance, market demand, and industry trends were materially incomplete, inaccurate and misleading.
DEADLINE: January 18, 2022 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/zhangmen-education-inc-loss-submission-form/?id=21564&from=5
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of ZME during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is January 18, 2022. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company’s stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company’s stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Phone: (212) 537-9430
Fax: (833) 862-7770
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105288