BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Jianpu Technology Inc. (“Jianpu” or the “Company”) (NYSE: JT) investors concerning the Company and its officers’ possible violations of federal securities laws.
Jianpu operates a mobile platform that recommends loans underwritten by Chinese subprime lenders, including Qudian Inc. (“Qudian”), and PPDAI Group Inc. (“PPDAI”).
On November 16, 2017, Jianpu conducted its initial public offering of American depositary shares at a price of $8.00 per share.
On November 21, 2017, however, Chinese regulators banned the issuance of new online peer-to-peer licenses, citing improper and illegal practices by lenders such as Qudian and PPDAI. On this news, Jianpu’s share price fell more than 30%, to close at just $4.90 per share on Nov. 24, 2017, thereby injuring investors.
If you purchased Jianpu securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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