Robbins Geller Rudman & Dowd LLP and Abraham, Fruchter & Twersky, LLP Announce Proposed Settlement in the Jianpu Technology Inc. Securities Settlement

NEW YORK, Jan. 31, 2022 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP and Abraham, Fruchter & Twersky, LLP regarding the Jianpu Technology Inc. Securities Settlement:

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

SUMMARY NOTICE OF PENDENCY
AND PROPOSED
CLASS ACTION SETTLEMENT

PLEASE READ THIS NOTICE CAREFULLY.  YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.  THIS NOTICE WAS AUTHORIZED BY THE COURT.  IT IS NOT A LAWYER SOLICITATION.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York, that a hearing is scheduled to be held on May 12, 2022, at 11:00 a.m. before the Honorable Paul G. Gardephe, United States District Judge of the Southern District of New York, Thurgood Marshall Courthouse, 40 Foley Square, Room 705, New York, NY 10007 for the purpose of determining whether: (1) the proposed Settlement¹ of the above-captioned Action for consideration including the sum of $7,500,000 should be approved by the Court as fair, reasonable, and adequate; (2) the proposed plan to distribute the Net Settlement Fund (the "Plan of Allocation") is fair, reasonable, and adequate and therefore should be approved; (3) the application of Plaintiffs' Counsel for an award of attorneys' fees not to exceed 33 1/3 percent plus interest of the Settlement Amount, payment of costs and expenses of not more than $75,000, and an Award to Plaintiff of not more than $2,500, should be approved, and, if so, in what amount; and (4) the Judgment as provided under the Stipulation should be entered.

Please Note: The date and time of the Settlement Hearing may change and/or may be held by teleconference or videoconference, without further written notice to the Settlement Class.  You should monitor the Court's docket and the website maintained by the Claims Administrator, www.JianpuSecuritiesSettlement.com, before making plans to participate in the Settlement Hearing.  You may also confirm the date, time, and method of the Settlement Hearing by contacting Lead Counsel by phone at 212-279-5050 or 800-449-4900.

This Action is a securities class action brought on behalf of those persons who purchased or otherwise acquired Jianpu ADS(s) pursuant or traceable to the Registration Statement filed with the U.S. Securities and Exchange Commission in connection with Jianpu's November 16, 2017 IPO on the New York Stock Exchange against Jianpu and others (Defendants and the Unserved Defendants) for, among other things, allegedly misstating and omitting material facts from the Registration Statement.  Lead Plaintiff alleges that these purportedly false and misleading statements inflated the Company's stock price, resulting in damages to Settlement Class Members when the truth was revealed.  Defendants deny all of the allegations. 

IF YOU PURCHASED OR OTHERWISE ACQUIRED JIANPU ADSs PURSUANT OR TRACEABLE TO THE REGISTRATION STATEMENT ISSUED IN CONNECTION WITH THE COMPANY'S NOVEMBER 16, 2017 IPO, YOUR RIGHTS MAY BE AFFECTED BY THIS SETTLEMENT, INCLUDING THE FULL AND FINAL RELEASE AND EXTINGUISHMENT OF CLAIMS YOU MAY POSSESS RELATING TO YOUR PURCHASE, SALE, AND OWNERSHIP INTEREST IN JIANPU ADSs PURCHASED OR OTHERWISE ACQUIRED PURSUANT AND/OR TRACEABLE TO JIANPU'S IPO.

If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form ("Proof of Claim"), you may obtain copies, as well as a copy of the Stipulation and other settlement documents, by writing to Jianpu Securities Settlement, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 43399, Providence, RI 02940-3399; by calling 888-758-6693; or by going to the website, www.JianpuSecuritiesSettlement.com. 

If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim, whether online or by mail, submitted electronically or postmarked, no later than April 28, 2022, establishing that you are entitled to recovery.  Unless you submit a written Request for Exclusion as described below, you will be bound by any judgment rendered in the Action whether or not you submit a Proof of Claim.

IF YOU DESIRE TO BE EXCLUDED FROM THE SETTLEMENT CLASS, YOU MUST SUBMIT TO THE CLAIMS ADMINISTRATOR A REQUEST FOR EXCLUSION SO THAT IT IS RECEIVED NO LATER THAN MARCH 29, 2022, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.  IF YOU PROPERLY EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS, YOU WILL NOT BE BOUND BY ANY JUDGMENTS OR ORDERS ENTERED BY THE COURT IN THE ACTION AND YOU WILL NOT BE ELIGIBLE TO SHARE IN THE PROCEEDS OF THE SETTLEMENT.  ALL MEMBERS OF THE SETTLEMENT CLASS WHO HAVE NOT VALIDLY REQUESTED EXCLUSION FROM THE SETTLEMENT CLASS WILL BE BOUND BY ANY JUDGMENT ENTERED IN THE ACTION PURSUANT TO THE STIPULATION.

IF YOU ARE A SETTLEMENT CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, PLAN OF ALLOCATION, THE REQUEST BY PLAINTIFFS' COUNSEL FOR AN AWARD OF ATTORNEYS' FEES AND EXPENSES, AND/OR THE AWARD TO PLAINTIFF.  ANY OBJECTIONS MUST BE IN THE MANNER AND FORM EXPLAINED IN THE DETAILED NOTICE, INCLUDING FILED WITH THE COURT AND SENT TO LEAD COUNSEL AND DEFENDANTS' COUNSEL BY MARCH 4, 2022:

Clerk of the Court
United States District Court
Southern District of New York
500 Pearl Street
New York, NY 10007

If you have any questions about the Settlement, you may contact the Claims Administrator or Lead Counsel at the addresses listed above or go to the website at www.JianpuSecuritiesSettlement.com. Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.

¹ All capitalized terms not otherwise defined herein shall have the meanings provided in the Stipulation of Settlement dated November 15, 2021 (the "Stipulation"), which can be viewed and/or downloaded at www.JianpuSecuritiesSettlement.com.

Media Contact:
Robbins Geller Rudman & Dowd LLP
Shareholder Relations
Rick Nelson
(619) 231-1058

SOURCE Robbins Geller Rudman & Dowd LLP