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New York, New York--(Newsfile Corp. - December 3, 2021) - The Law Offices of Vincent Wong announce that a class action lawsuit has commenced in the on behalf of investors who purchased Zhangmen Education Inc. ("Zhangmen") (NYSE: ZME). This lawsuit is on behalf of all those who purchased or otherwise acquired the American Depositary Shares of Zhangmen in or traceable to the Company's initial public offering, conducted on or about June 8, 2021, pursuant to the IPO prospectus..
If you suffered a loss, contact us at the link below. There is no cost or obligation to you.
Allegations against ZME include that the Company made materially 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.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
New York, NY 10002
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106471