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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of JCOM, WINS and QTT

NEW YORK, NY / ACCESSWIRE / September 2, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

J2 Global, Inc. (NASDAQ:JCOM)

Investors Affected : October 5, 2015 - June 29, 2020

A class action has commenced on behalf of certain shareholders in J2 Global, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) J2 Global engaged in undisclosed related party transactions; (2) J2 Global used misleading accounting to hide requisite impairments and underperformance in acquisitions; (3) several so-called independent members of the Company' board of directors and audit committee were not disinterested; and (4) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/j2-global-inc-loss-submission-form/?id=9012&from=1

Wins Finance Holdings Inc. (NASDAQ:WINS)

Investors Affected : October 31, 2018 - July 6, 2020

A class action has commenced on behalf of certain shareholders in Wins Finance Holdings Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the ultimate repayment of the RMB 580 million Guohong Loan was highly uncertain; (ii) nonpayment of the Guohong Loan would have a significant impact on the Company's financial and operating condition; (iii) weaknesses in Wins's internal control over its financial reporting persisted despite the Company's repeated assurances to investors that it was taking steps to remediate these weaknesses; (iv) the foregoing issues, among others, made the resignation of Wins's independent auditor foreseeably likely; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/wins-finance-holdings-inc-loss-submission-form/?id=9012&from=1

Qutoutiao Inc. (NASDAQ:QTT)

This lawsuit is on behalf of persons and entities that: a) purchased or otherwise acquired Qutoutiao American Depositary Shares pursuant and/ortraceable to the registration statement and prospectus issued in connection with the Company's September 2018 initial public offering; and/or b) purchased or otherwise acquired Qutoutiao securities between September 14, 2018 and July 15, 2020.

A class action has commenced on behalf of certain shareholders in Qutoutiao Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Qutoutiao replaced its advertising agent with a related party, thereby bypassing third-party oversight of the content and quality of the advertisements; (2) the Company placed advertisements on its mobile app for products whose claims could not be substantiated and thus were considered false advertisements under applicable regulations; (3) as a result, the Company would face increasing regulatory scrutiny and reputational harm; (4) as a result, the Company's advertising revenue was reasonably likely to decline; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Shareholders may find more information at https://securitiesclasslaw.com/securities/qutoutiao-inc-loss-submission-form-2/?id=9012&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm



View source version on accesswire.com:
https://www.accesswire.com/604523/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-JCOM-WINS-and-QTT

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