Jianpu Securities Settlement

This website has been established to provide general information related to the proposed settlement of the case captioned Panther Partners Inc. v. Jianpu Technology Inc., et al., Civil Action No. 1:18-cv-09848(PGG) (the "Litigation"), pending before the United States District Court for the Southern District of New York (the "Court"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated November 15, 2021, which can be found and downloaded by clicking on the Case Documents tab above. Your rights may be affected by the Settlement if you purchased or otherwise acquired Jianpu Technology Inc. (“Jianpu” or the “Company”) American Depositary Shares (“ADSs”) pursuant or traceable to the Registration Statement issued in connection with Jianpu’s November 16, 2017 initial public offering (“IPO”).

The Court appointed Abraham, Fruchter & Twersky, LLP and Robbins Geller Rudman & Dowd LLP as Lead Counsel to represent you and the other Settlement Class Members. You will not be directly charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

As more fully described in the Notice of Pendency and Proposed Settlement of Class Action (the "Notice"), this Action involves a claim that Defendants allegedly violated certain federal securities laws by making misrepresentations or omissions of material fact in the Registration Statement filed with the U.S. Securities and Exchange Commission in connection with Jianpu’s November 16, 2017 IPO. The Amended Complaint (the “Complaint”) alleges that the misstatements or omissions, primarily concerning risk of the Peoples Republic of China’s (“PRC”) laws and regulations to Jianpu’s revenues, caused the Settlement Class to suffer losses after the truth was revealed. Defendants have denied and continue to deny each, any and all allegations of wrongdoing, fault, violation of law, liability or damage whatsoever asserted in the Action. The Settlement shall in no event be construed as, or deemed to be evidence of, liability, fault, violation of law, wrongdoing, injury, or damages, or of any wrongful conduct, acts or omissions on the part of any of the Released Parties, or of any infirmity of any defense, or of any damages to the Lead Plaintiff or any other Settlement Class Member. The Settlement resolves all of the claims in the Action, as well as certain other claims or potential claims, whether known or unknown.

In response to Lead Plaintiff’s allegations, Defendants submitted a motion to dismiss the Complaint on June 3, 2019; Lead Plaintiff opposed by submitting an opposition memorandum on August 5, 2019; and Defendants submitted a reply memorandum in further support of their motion to dismiss on September 19, 2019. The Court denied Defendants’ motion to dismiss on September 27, 2020.

On March 15, 2021, the Settling Parties participated in a mediation session before Greg Lindstrom of Phillips ADR, an experienced mediator. No settlement was reached at the mediation. However, the Settling Parties continued to negotiate a possible settlement in the weeks thereafter, with the assistance of Mr. Lindstrom, and reached an agreement on August 13, 2021.

WHAT DOES THE SETTLEMENT PROVIDE?

The Settlement, if approved, will provide Seven Million Five Hundred Thousand Dollars ($7,500,000) (the “Settlement Amount”) gross, plus interest as it accrues, minus any Court-awarded Plaintiffs’ Counsel attorneys’ fees and expenses, Administrative Costs, Award to Plaintiff, Taxes, and Tax Expenses. If the Settlement is approved by the Court and the foregoing deductions from the Settlement Fund have been made, the amount remaining (the “Net Settlement Fund”) will be distributed to Settlement Class Members who submit timely, valid claims, according to the Plan of Allocation to be approved by the Court.

ADDITIONAL INFORMATION

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

IMPORTANT DATES AND DEADLINES