Chinese media aggregator Qutoutiao Inc. beat investor allegations that paperwork for its initial and secondary public offerings misled shareholders about screening and placing illegal advertisements.
None of the alleged misrepresentations or omissions would’ve misled a reasonable investor, and the shareholder leading the case didn’t adequately back up his claim QTT was placing illegal advertisements around the time of the offerings, Judge
QTT’s smartphone app aggregates media and generates most of its revenue by selling advertisements, investor James Pappas’ complaint ...
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