ZTO Express (Cayman) Inc. (ZTO)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of ZTO Express (Cayman) Inc. (“ZTO Express” or the “Company”) (NYSE: ZTO). Investors who purchased ZTO Express securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether ZTO Express has violated federal securities laws.
On March 2, 2023, market analyst Grizzly Research published a report on ZTO Express entitled “ZTO Express Inc. (NYSE: ZTO): China’s ‘Best-in-Class’ Logistics Company is Really ‘Best in Show’; We Believe Financials are Fake and Insiders are Stealing from the Company.” The report alleged that ZTO Express has falsified various financial metrics in its Securities & Exchange Commission (‘SEC’) filings, including its margins, by understating revenues and overstating net profit. The report further alleges, among other things, that ZTO Express underreports employees to decrease its costs, that it utilizes “sham network partner acquisitions to enrich insiders” and engages in undisclosed related party transactions. On this news, ZTO Express’s American Depositary Receipt (“ADR”) price fell sharply during intraday trading on March 2, 2023.
If you are aware of any facts relating to this investigation or purchased ZTO Express shares, you can assist this investigation by contacting the firm. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.