CooTek (Cayman) Inc. (CTK)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of CooTek (Cayman) Inc. ("CooTek" or "the Company") (NYSE: CTK). The investigation concerns whether CooTek and certain of its officers and/or directors have violated federal securities laws.
In September 2018, CooTek conducted its initial public offering (“IPO”), issuing 4.35 million American Depositary Shares (“ADSs”) priced at $12.00 per ADS. Then, on December 15, 2020, CooTek announced its unaudited financial results for the third quarter of 2020. CooTek disclosed an operating loss of $1.1 million, which the Company stated “mainly relates to compensation payment to victims of alleged misconducts of certain third-party advertisers perpetrated on the Group's platform that the Group deposited to an escrow account controlled by a local authority conducting investigation on the advertisers.” On this news, CooTek’s ADS price fell $1.99 per ADS, or 31.44%, to close at $4.34 per ADS on December 15, 2020. Then, on June 3, 2021, CooTek announced its unaudited financial results for the first quarter of 2021. CooTek disclosed, among other results, non-GAAP earnings per share of -$0.18, missing consensus estimates by $0.02. On this news, CooTek’s ADS price fell sharply during intraday trading on June 3, 2021.
If you are aware of any facts relating to this investigation, or purchased CooTek shares, you can assist this investigation by visiting contacting the firm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.