ZTO Defeats Securities Suit Regarding Largest IPO of 2016

Skadden secured a complete dismissal of securities claims against ZTO Express (Cayman) Inc. arising out of its IPO, which was the largest of 2016. A putative class of shareholders brought claims under the Securities Act of 1933 alleging that ZTO’s offering materials were false or misleading, including by omitting a change in the company’s pricing. On July 17, 2019, Judge Laura Taylor Swain of the United States District Court for the Southern District of New York granted ZTO’s motion to dismiss the case in its entirety.