Lead Plaintiff Deadline: October 19, 2020
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(1) Qutoutiao replaced its advertising agent with a related party, thereby bypassing third-party oversight of the content and quality of the advertisements; (2) the Company placed advertisements on its mobile app for products whose claims could not be substantiated and thus were considered false advertisements under applicable regulations; (3) as a result, the Company would face increasing regulatory scrutiny and reputational harm; (4) as a result, the Company’s advertising revenue was reasonably likely to decline; and (5) 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.
In order to be included in the lawsuit, you must have incurred a loss on shares of Qutoutiao Inc. purchased during the class period listed above.
If you suffered a loss in Qutoutiao Inc. during the relevant time frame, you have until October 19, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.