China's delivery firm ZTO, banks sued over 'inflated' margins in top 2016 US IPO

China's delivery firm ZTO, banks sued over 'inflated' margins in top 2016 US IPO

ZTO Express on route to delivery. Photo: Bloomberg

ZTO Express Inc., the Chinese delivery service that had the biggest U.S. initial public offering in 2016, and its underwriters were sued for allegedly inflating profit margins to exceed industry peers and lure investors.

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