WHY: Rosen Law Firm, a global investor rights law firm, announced an investigation of potential securities claims on behalf of shareholders of ZTO Express (Cayman) Inc. ZTO resulting from allegations that ZTO Express may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased ZTO Express securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=12595 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
WHAT IS THIS ABOUT: On March 2, 2023, market analyst Grizzly Research published a report on ZTO Express called “ZTO Express Inc. ZTO: China’s “Best-in-Class” Logistics Company is Really “Best in Show”; We Believe Financials are Fake and Insiders are Stealing from the Company.” The report alleging that ZTO Express has falsified various financial metrics in its Securities & Exchange Commission (“SEC”) filings, including its margins, by understating revenues and overstating net profit. Further, the report alleged, among other things, that ZTO Express underreports employees to decrease its costs, that it utilizes “sham network partner acquisitions to enrich insiders” and engages in undisclosed related party transactions.
On this news, ZTO Express’s American Depositary Share (“ADR”) price fell $1.06, or 4.32%, per ADR in intraday trading.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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