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Gridsum agreed to settle a $4.5 million with investors to end a five-year-old lawsuit alleging Gridsum made misleading statements about its accounting and taxes related to a 2016 IPO.

Gridsum supposedly misled about its lacking of effective internal control over financial reporting, which resulted in inaccurate financial statements. 

On April 23, 2018, Gridsum issued a press release, acknowledging the suspension of its audit report for the year ended December 31, 2016. 

Moreover, audit problems for the financial results in 2017 caused a 16% $GSUM drop.

Gridsum has now decided to resolve all the case related allegations and pay a $4.5M settlement.

Gridsum Holding Inc.

All persons and entities who purchased or otherwise acquired Gridusm ADSs and publicly traded call options, and also the sales (writings) of publicly traded Gridsum put options during the period between September 22, 2016 and January 7, 2019.

Do I have to sell securities to be eligible?

No, if you have purchased securities within the class period, you are eligible to participate.

You can participate in the settlement and retain (or sell) your securities.

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.

11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:

Audit the claim and make sure you get the maximum possible payout

File a claim with the settlement administration

Correspond with the settlement administration to resolve emerging issues

Deliver payout directly to your brokerage account

There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.

Accepting Late Claims

Mismanagement

Misleading Statements

Omissions

Directors

Management

Gridsum (GSUM) IPO Disclosures $4.5M Settlement

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Gridsum Holding Inc. provides data analysis software for enterprises and government agencies in China. Its proprietary distributed data architecture allows its customers to collect and analyze information; and Gridsum Big Data platform and Gridsum Prophet performs multi-dimensional correlation analysis and analyzes complex real-time events. The company offers Web Dissector to analyze customer websites by monitoring and analyzing key performance indicators; Mobile Dissector to understand mobile app user activity; SEM Dissector for search engine marketing; SEO Dissector, a search engine optimization tool; Ad Dissector, an advertisement performance monitoring and optimization product; Contribution Dissector to track and analyze user behavior; Audience Dissector, an audience analysis product; and Recommendation Engine, a data driven content recommendation solution. It also provides Government Web Dissector, a digital intelligence solution; Government Website Group Integrated Management Platform, an integrated management platform; Streaming Dissector, a viewership analysis tool for digital online video; Video Dissector, an online video content analytics tool; TV Dissector, an analytics tool; Rating Plus, a television viewing data analytics tool; Media Dissector, a content media monitoring and analytics tool; Information Dissector, an analytical system; and Social Listening, a could-based social listening solution. In addition, the company offers Law Dissector, a search and statistical analysis tool for legal research; Smart Push, a legal research tool; Intelligent Voice Recognition and Transcription System; Faxin Wei Su, a litigation service; Gridsum Visualization Platform; Gridsum Dashboard, a data visualization tool; and Gridsum Report Center, an automated report generation and distribution tool. Further, it develops media analytics and information discovery solutions. The company was founded in 2005 and is headquartered in Beijing, the People's Republic of China.

Gridsum (GSUM) IPO Disclosures $4.5M Settlement

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