The Law Offices of Vincent Wong announce that a securities action has been commenced on behalf of investors who purchased ZTO Express (Cayman), Inc. (“ZTO Express”) (NYSE: ZTO) securities pursuant and/or traceable to the Company’s Initial Public Offering on or about October 27, 2016.
The complaint alleges that the Registration Statement used to conduct the IPO contained inaccurate statements and omitted material information. In particular, the complaint alleges that ZTO Express failed to disclose that: (1) it was improperly inflating its stated profit margins by keeping certain low-margin segments of its business out of its financial statements; (2) it used a system of “network partners” to handle lower-margin pickup and delivery services, while maintaining ownership of core hub operations; and (3) by keeping the “network partners” businesses off its own books, the Company allegedly was able to exaggerate its profit margins to investors.
If you suffered a loss in ZTO Express you have until October 16, 2017 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.
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