NEW YORK, Nov. 23, 2021 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Zhangmen Education Inc.
("Zhangmen" or the "Company") (NYSE: ZME) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Zhangmen American Depositary Shares of Zhangmen in or traceable to the Company's initial public offering (the "IPO"), conducted on or about June 8, 2021. Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/zme.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933.
The complaint alleges that Zhangmen made misleading statements to investors and failed to disclose that: (1) PRC authorities were in the process of implementing sweeping new regulatory reforms on the private education industry in China including, among others, prohibitions on: (a) profit-making by private education companies, (b) engaging in core-curriculum tutoring on weekends and vacations, and (b) capital-raising by companies like Zhangmen Education; (2) the known risks, events, and uncertainties noted in the Registration Statement were reasonably likely to have a material adverse effect on Zhangmen Education's business; and (3) based on the foregoing, the statements in the Registration Statement concerning Zhangmen Education's historical financial performance, market demand, and industry trends were materially incomplete, inaccurate, and misleading.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/zme or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC