STEVENSON, Md., Sept. 19, 2017 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of ZTO Express (Cayman), Inc. (NYSE:ZTO) (“ZTO” or the “Company”) American Depositary Shares (“ADSs”) issued in connection with the Company’s October 27, 2016 initial public stock offering (“IPO”). Investors who wish to become proactively involved in the litigation have until October 16, 2017 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in ZTO’s October 27, 2016 IPO. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Act of 1933 by virtue of the defendants’ failure to disclose in connection with the October 27, 2016 IPO that the Company was improperly inflating its stated profit margins by keeping certain low-margin segments of its business out of its financial statements.
At the time of the filing of a complaint against the Company on August 14, 2017 asserting these allegations, the value of ZTO American depositary shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in ZTO’s October 27, 2016 IPO and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.