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NEW YORK, March 26, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate 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 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 pkim@rosenlegal.com or cases@rosenlegal.com 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 alleged 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 its 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. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout…
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