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Qutoutiao Fires Back at Investor Suit Over News App Ad Practices

March 17, 2021, 8:30 PM

Qutoutiao Inc. investors who said they were misled about its in-app advertising practices failed to meet the heightened fraud pleading burden, so their suit should be thrown out, the company told a federal court in New York.

The Chinese news aggregation application company’s investors also accused it of hiding a related-party transaction. The would-be class suit didn’t adequately allege any actionable misrepresentation or omission or suggest the company acted with the required mental state, according to Qutoutiao’s filings in the U.S. District Court for the Southern District of New York.

Qutoutiao “operates in a fast-evolving sector that faces significant uncertainties ...

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