• Image 01
  • Image 02
  • Image 03
  • Image 04
  • Image 05
  • Image 06
Need assistance? Contact Us: 1-800-255-5897

Menu

  • Home
  • About Us
    • Company Overview
    • Management Team
    • Board of Directors
  • Your Loan Service Center
  • MAKE A PAYMENT
  • Business Service Center
  • Contact Us
  • Home
  • About Us
    • Company Overview
    • Management Team
    • Board of Directors
  • Your Loan Service Center
  • MAKE A PAYMENT
  • Business Service Center
  • Contact Us
Recent Quotes
View Full List
My Watchlist
Create Watchlist
Indicators
DJI
Nasdaq Composite
SPX
Gold
Crude Oil
Markets
Stocks
ETFs
Tools
Markets:
Overview
News
Currencies
International
Treasuries

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Zhangmen Education Inc. (ZME) Investors

By: Law Offices of Howard G. Smith via Business Wire
November 23, 2021 at 12:00 PM EST

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Zhangmen Education Inc.(“Zhangmen” or the “Company”) (NYSE: ZME) American Depositary Shares (“ADSs or shares”) pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s June 2021 initial public offering (“IPO”). Zhangmen investors have until January 18, 2022 to file a lead plaintiff motion.

Investors suffering losses on their Zhangmen investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

In June 2021, Zhangmen, an education company focused on providing personalized online courses to K-12 students in China, conducted its IPO, selling 4,166,450 ADSs at a price of $11.50 per ADS.

Then, on July 23, 2021 China revealed an extensive overhaul of its education sector, prohibiting companies that teach the school curriculum from making profits, raising capital or going public. This effectively ended China’s $120 billion private tutoring industry.

On July 26, 2021, Zhangmen issued a release stating that these new guidelines were likely “to have material impacts on our existing business operations, financial condition and corporate structure.”

Then, on November 19, 2021, Zhangmen announced that its independent auditor had resigned.

On November 19, 2021, the Company’s share price closed at $1.47 per ADS, an 80% decline from the IPO price.

The complaint filed in this class action alleges that the Registration Statement failed to disclose that: (a) the People’s Republic of China (“PRC”) 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 the Registration Statement were reasonably likely to have a material adverse effect on Zhangmen’s business; and (c) based on the foregoing, the statements in the Registration Statement concerning Zhangmen’s historical financial performance, market demand, and industry trends were materially incomplete, inaccurate, and misleading.

If you purchased Zhangmen ADSs, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211123005477/en/

Contacts

Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

More News

View More
Hedge Funds Flip on the Dollar—A Buy Signal for These 3 Stocks?
Today 8:35 EDT
Via MarketBeat
Topics Bonds Stocks World Trade
Tickers ABNB DAL DOW HD
Happy Third Birthday to the Bull Market
Today 8:22 EDT
Via MarketBeat
Topics Artificial Intelligence Stocks
Tickers NVDA PLTR TSLA
MarketBeat Week in Review – 10/13 - 10/17
Today 7:00 EDT
Via MarketBeat
Topics Artificial Intelligence Economy World Trade
Tickers ACHR AMZN APLD APP ASTS CRM
This AI Chip Giant Could Be the Market’s Next Big Winner
October 17, 2025
Via MarketBeat
Topics Artificial Intelligence
Tickers AMD TSM
Broadcom Inks OpenAI Deal: Why It's A Huge Win for AVGO Stock
October 17, 2025
Via MarketBeat
Topics Artificial Intelligence
Tickers AMD AVGO NVDA

Recent Quotes

View More
Symbol Price Change (%)
AMZN  213.04
-1.43 (-0.67%)
AAPL  252.29
+4.84 (1.96%)
AMD  233.08
-1.48 (-0.63%)
BAC  51.28
+0.84 (1.67%)
GOOG  253.79
+1.91 (0.76%)
META  716.91
+4.84 (0.68%)
MSFT  513.58
+1.97 (0.39%)
NVDA  183.16
+1.35 (0.74%)
ORCL  291.31
-21.69 (-6.93%)
TSLA  439.31
+10.56 (2.46%)
FinancialContent
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the Privacy Policy and Terms Of Service.
© 2025 FinancialContent. All rights reserved.

Having difficulty making your payments? We're here to help! Call 1-800-255-5897

Copyright © 2019 Franklin Credit Management Corporation
All Rights Reserved
Contact Us | Privacy Policy | Terms of Use | Sitemap