Investors’ Stock-Drop Claims Against Chinese Delivery Company Dismissed

Mealey's (July 19, 2019, 1:54 PM EDT) -- NEW YORK — Lead plaintiffs in a securities class action lawsuit against a Chinese express delivery company and others have failed to sufficiently show that the defendants issued any material misrepresentations or omissions in the offering documents for the company’s initial public offering (IPO) in violation of federal securities laws, a federal judge in New York ruled July 17 (Rustem Nurlybayev v. ZTO Express [Cayman] Inc., et al., No. 17-6130, S.D. N.Y., 2019 U.S. Dist. LEXIS 119061)....