Case: Qutoutiao Inc.
Venue: Southern District of New York
Class Period: 9/14/2018 - 7/15/2020
Lead Plaintiff Deadline: 10/19/2020
Contact: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

NEW YORK, NY – September 9, 2020 – Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Qutoutiao Inc. (“Qutoutiao” or the “Company”) (NASDAQ: QTT).  A complaint has been filed on behalf of investors who purchased or otherwise acquired Qutoutiao American Depositary Shares ("ADSs") pursuant and/or traceable to the registration statement or prospectus for the Company’s September 2018 initial public offering (the “IPO”) or purchased or otherwise acquired Qutoutiao securities between September 14, 2018 and July 15, 2020, inclusive (the “Class Period”).

On or around September 14, 2018, Qutoutiao conducted its IPO by issuing 12 million priced at $7.00 per ADS.  

Then, on July 15, 2020, hosts of a consumer-rights gala in China stated that Qutoutiao had allowed ads on its platform promoting exaggerated or impossible claims from companies marketing weight-loss products.  For example, one such ad offered free weight-loss products valued at $14,300 that would purportedly help users lose more than 30 pounds in a month. 

On this news, the Company's ADS price fell $0.85 per ADS, or 23%, to close at$2.84 per ADS on July 16, 2020.

If you are a member of the proposed Class, you may move the court no later than October 19, 2020 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing This e-mail address is being protected from spambots. You need JavaScript enabled to view it or by calling 646-315-9003.

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

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, your rights, or your interests, please contact: 

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: dhall@@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
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