DEADLINE ALERT for EH and JT: The Law Offices of Frank R. Cruz Reminds Investors of Class Actions on Behalf of Shareholders

The Law Offices of Frank R. Cruz
·3 min read

LOS ANGELES, April 19, 2021 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.

Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to fcruz@frankcruzlaw.com.

EHang Holdings Limited (NASDAQ: EH)
Class Period: December 12, 2019 – February 16, 2021
Lead Plaintiff Deadline: April 19, 2021

Shareholders with $10,000 losses or more are encouraged to contact the firm

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company’s purported regulatory approvals in Europe and North America for its EH216 were for use as a drone, and not for carrying passengers; (2) its relationship with its purported primary customer is a sham; (3) EHang has only collected on a fraction of its reported sales since its ADS began trading on NASDAQ in December 2019; (4) the Company’s manufacturing facilities were practically empty and lacked evidence of advanced manufacturing equipment or employees; and (5) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.

Jianpu Technology, Inc. (NYSE: JT)
Class Period: May 29, 2018 – February 16, 2021
Lead Plaintiff Deadline: April 19, 2021

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that certain of the Company’s transactions carried out by the Credit Card Recommendation Business Unit involved undisclosed relationships or lacked business substance; (2) that, as a result, Jianpu’s revenue and costs and expenses for fiscal 2018 and 2019 were overstated; (3) that there were material weaknesses in Jianpu’s internal control over financial reporting; (4) that, as a result of the foregoing, the Company’s fiscal 2018 Form 20-F was reasonably likely to be restated; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com