Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Zhangmen Education Inc. (NYSE: ZME) securities.
If you suffered a loss on your Zhangmen investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: in or traceable to the Company’s initial public offering, conducted on or about June 8, 2021, pursuant to the IPO prospectus
CASE DETAILS:
(a) People’s Republic of China authorities were in the process of implementing sweeping new regulatory reforms on the private education industry in China including, among others, prohibitions on (i) profit-making by private education companies, (ii) engaging in core-curriculum tutoring on weekends and vacations, and (iii) capital-raising by companies like Zhangmen; (b) the known risks, events and uncertainties noted in (a) above were reasonably likely to have a material adverse effect on the Company’s business; and (c) based on the foregoing, the statements in the Registration Statement concerning the Company’s historical financial performance, market demand, and industry trends were materially incomplete, inaccurate and misleading.
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