| COMPANY |
ZTO Express Inc. |
| COURT |
United States District Court for The Southern District of New York |
| CASE NUMBER |
17-cv-06130 |
| JUDGE |
The Hon. William Francis Kuntz II |
| CLASS PERIOD |
Pursuant to the company’s initial public offering on or about October 27, 2016 |
| SECURITY TYPE |
All Securities |
Case Background:
On August 14, 2017, the initial complaint in this securities class action was filed against ZTO Express (Cayman) Inc. (“ZTO” or the “Company”), and certain of ZTO’s directors, officers and underwriters, asserting violations of Sections 11 and 15 of the Securities Act. This is a federal securities class action lawsuit brought on behalf of all persons who purchased or otherwise acquired the securities of ZTO pursuant and/or traceable to the Company's IPO on or about October 27, 2016 (the “Class Period”).
The complaint alleges that Defendants’ IPO Registration Statement and Prospectus touted purported advantages of ZTO’s “network partner” and “shared success” business model but omitted disclosing that, two quarters before the IPO, ZTO lowered its network transit fees to subsidize its network partners in response to increased operating costs, pricing pressure, competition and other negative market conditions.
Current Status of Case:
On July 17, 2019, the Court granted Defendant’s Motion to Dismiss Plaintiffs’ Complaint. On March 31, 2021, the Court denied Plaintiffs’ Motion for Leave to Amend and closed the case. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.