It is alleged in this complaint that Jianpu made materially misleading and/or false statements, and failed to disclose to investors that: (i) certain transactions carried out by Jianpu’s Credit Card Recommendation Business Unit involved undisclosed relationships or lacked business substance; (ii) that, as a result, Jianpu’s revenue, and expenses for fiscal years 2018 and 2019 were overstated; (iii) that there were material weaknesses in Jianpu’s internal control over financial reporting; (iv) that, as a result, Jianpu’s fiscal year 2018 Form 20-F was reasonably likely to be restated; and (v) that, as a result, Jianpu’s positive statements about the their prospects, operations, and business, were materially misleading and/or lacked a reasonable basis.
Jianpu Technology, Inc.
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