NEW YORK, Dec. 24, 2021 (GLOBE NEWSWIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit against Zhangmen Education Inc. (“Zhangmen” or the “Company”) ( NYSE: ZME) at the United States District Court for the Southern District of New York on behalf of all natural and legal persons who, according to the IPO of the 8th investor, have until January 18, 2022, to be named as the lead plaintiff by the court to apply for the dispute.
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In June 2021, Zhangmen, an education company focused on delivering personalized online courses to K-12 students in China, went public (“IPO”) and sold 4,166,450 ADS for $ 11.50 per ADS.
Then, on July 23, 2021, China announced a major overhaul of its education sector that banned companies teaching the curriculum from making a profit, raising capital, or going public. That effectively ended China’s $ 120 billion private tutoring industry.
On July 26, 2021, Zhangmen issued a press release stating that these new guidelines are likely to “have a material impact on our existing business operations, financial condition and corporate structure.”
Then, on November 19, 2021, Zhangmen announced the resignation of his independent auditor.
On November 19, 2021, the company’s share price closed at $ 1.47 per ADS, an 80% decrease from the IPO price.
If you have purchased or otherwise acquired Zhangmen stock and have suffered a loss, are a long-term shareholder, have information, want to learn more about these claims, or have questions about this release or your rights or interests in relation to these matters, please contact Email Brandon Walker or Alexandra Raymond at email@example.com, call (212) 355-4648, or fill out this contact form. There are no costs or obligations for you.
About Bragar Eagle & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.
Bragar Eagle & Squire, PC Brandon Walker, Esq. Alexandra B. Raymond, Esq. (212) 355-4648 firstname.lastname@example.org
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