Press release
Investigation announced for Investors in shares of Zai Lab Limited (NASDAQ: ZLAB)
An investigation for investors in Zai Lab Limited (NASDAQ: ZLAB) shares over potential securities laws violations by Zai Lab Ltd.
Investors who purchased shares of Zai Lab Limited (NASDAQ: ZLAB), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Zai Lab Limited (NASDAQ: ZLAB) concerning whether a series of statements by Zai Lab Limited regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience primarily in Mainland China and Hong Kong. Zai Lab Limited reported that its annual Total Revenue rose from $48.95 million in 2020 to $144.31 million in 2021, and that its Net Loss increased from $268.9 million in 2020 to $704.47 million in 2021.
On March 9, 2022, the U.S. Securities and Exchange Commission ("SEC") published a notification identifying Zai Lab Limited, among other companies, as in potential violation of the Holding Foreign Companies Accountable Act, which allows the SEC to delist companies and ban a company's shares from being traded if the company fails to allow U.S. regulators to review their company audits for three straight years. Zai Lab Limited and the other companies named in the SEC notification have until March 29, 2022 to challenge the charges against them.
Shares of Zai Lab Limited (NASDAQ: ZLAB) declined from $181.92 per share in June 2021, to as low as $25.74 per share on March 14, 2022.
Those who purchased shares of Zai Lab Limited (NASDAQ: ZLAB) have certain options and should contact the Shareholders Foundation.
Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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