ZME LAWSUIT FILED: Jakubowitz Law Pursues Claims on Behalf of Zhangmen Education Inc. Shareholders

New York, New York--(Newsfile Corp. - November 29, 2021) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Zhangmen Education Inc.

CLICK HERE FOR MORE DETAILS:

https://claimyourloss.com/securities/zhangmen-education-inc-loss-submission-form/?id=21679&from=5

This lawsuit is on behalf of all those who purchased or otherwise acquired the American Depositary Shares of Zhangmen in or traceable to the Company's initial public offering, conducted on or about June 8, 2021, pursuant to the IPO prospectus.

Shareholders interested in representing the class of wronged shareholders have until January 18, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

According to a filed complaint, Zhangmen Education Inc. issued materially false and/or misleading statements and/or failed to disclose that: (a) People's Republic of China authorities were in the process of implementing sweeping new regulatory reforms on the private education industry in China including, among others, prohibitions on (i) profit-making by private education companies, (ii) engaging in core-curriculum tutoring on weekends and vacations, and (iii) capital-raising by companies like Zhangmen; (b) the known risks, events and uncertainties noted in (a) above were reasonably likely to have a material adverse effect on the Company's business; and (c) based on the foregoing, the statements in the Registration Statement concerning the Company's historical financial performance, market demand, and industry trends were materially incomplete, inaccurate and misleading.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105650