Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Jianpu Technology Inc. To Contact Him Directly To Discuss Their Options
NEW YORK, NY - (NewMediaWire) - February 28, 2021 - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Jianpu Technology Inc. (“Jianpu” or the “Company”) (NYSE:JT).
If you suffered losses exceeding $50,000 investing in Jianpu stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: http://www.faruqilaw.com/JT.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Delaware, Pennsylvania, California and Georgia.
On February 16, 2021, Jianpu announced the results of its independent review into "transactions carried out by the Credit Card Recommendation Business Unit" with third-party business entities. The Company concluded that previously reported revenue and associated expenses had been inflated due to "certain transactions [that] involved third-party agents (including both upstream agents and downstream suppliers) with undisclosed relationships and some transactions [that] lacked business substance." Jianpu stated that it "anticipates the total amount of overstated revenue for the fiscal years 2018 and 2019 to be approximately, RMB 90 million and RMB 164 million, respectively, representing approximately 4.5% and 10.1% of the total revenue previously reported."
On this news, the Company's share price fell $0.60, or 13%, to close at $3.94 per share on February 16, 2021, thereby injuring investors.
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