The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Zhangmen Education Inc. (NYSE: ZME) in or traceable to the Company’s initial public offering, conducted on or about June 8, 2021, pursuant to the IPO prospectus.
According to the Zhangmen lawsuit, throughout the Class Period defendants made 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.
If you suffered a loss in Zhangmen you have until January 18, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
To receive more information, please fill out the form.