Zhangmen Education, Inc. ADS

Banerjee v. Zhangmen Education Inc. et al., (Case No. 1:21-cv-09634), S.D.N.Y.

The complaint alleges that Zhangmen Education, a dominant player in the Chinese online education and tutoring industry, failed to disclose the potential impact of pending legislation by the People’s Republic of China (PRC) at the time of the Company’s IPO. When the PRC unveiled its new regulations for the education sector less than two months after Zhangmen Education’s IPO, the changes effectively ended any potential for growth in the for-profit tutoring sector in China.

Shares of Zhangmen ADS stock were down more than 80% from the Company’s IPO price when the complaint was filed on November 19, 2021.

Lead Plaintiff deadline
January 18, 2022
class period
June 5, 2021
November 19, 2021
Case Documents
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