LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Zhangmen Education Inc. (“Zhangmen” or the “Company”) (NYSE: ZME) investors concerning the Company’s possible violations of the federal securities laws.
“to have material impacts on our existing business operations, financial condition and corporate structure.”
Tweet this
If you suffered a loss on your Zhangmen investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/zhangmen-education-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
In June 2021, Zhangmen, an education company focused on providing personalized online courses to K-12 students in China, conducted its initial public offering (“IPO”), selling 4,166,450 ADSs at a price of $11.50 per ADS.
Then, on July 23, 2021, China revealed an extensive overhaul of its education sector, prohibiting companies that teach the school curriculum from making profits, raising capital or going public. This effectively ended China’s $120 billion private tutoring industry.
On July 26, 2021, Zhangmen issued a release stating that these new guidelines were likely “to have material impacts on...
A Wixom, Michigan, business accused of making false statements to obtain a loan has agreed to pay a settlement of just over $1.5 million after it was sued by the federal government, according to th...