Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Gridsum Holding, Inc.

To join this class action, please complete the following Investor Certification.

Gridsum Holding, Inc. [NASDAQ: GSUM] Investor Certification

Company Name
Plaintiff Certifies That:
The following information is true and correct to the best of my knowledge, information and belief: 1. I have reviewed the Complaint in this action and authorize the filing of this Certification as an exhibit to the Complaint, or any substantively similar complaint or amended complaint to be filed in the future. I retain the law office of Federman & Sherwood, and any other counsel with whom Federman & Sherwood deems appropriate to associate with, to pursue this action on my behalf on a contingency fee basis. 2. If chosen, I am willing to serve as a representative party on behalf of the class (the “Class”), either individually or as part of a group on behalf of the Class as defined in the Complaint, including providing testimony at deposition or trial (if necessary). I am also willing to participate on an executive committee of shareholders.
3. I have made the following transaction(s) during the Class Period in
securities (which are the subject of this action) as follows:
# Shares Purchased Date Of Purchase Price Paid Per Share Class Of Stock (e.g. Common) If Sold, # Of Shares Sold Date Sold (If Sold) Per Share Selling Price
4. I did not purchase these securities at the direction of my attorney or in order to participate in a lawsuit under the Securities Act of 1933 or the Securities Exchange Act of 1934. 5. During the 3-year period preceding the date of this Certification, I have not sought to serve, nor have I served, as a representative to any party or on behalf of any class in any action arising under the Securities Act of 1933 or the Securities Exchange Act of 1934. 6. I will not accept any payment if chosen to serve as a representative party on behalf of the Class beyond my pro rata share of an award to the Class, or as otherwise ordered and approved by the Court, except for such reasonable costs and expenses directly relating to my service as a representative of the Class and as ordered and approved by the Court.
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By clicking on the button below, I intend to sign and execute this agreement and retain Federman & Sherwood to proceed on Plaintiff’s behalf on a contingency basis.

Oklahoma City, OK (April 26, 2018) – On April 25, 2018, a securities class action lawsuit was filed in the United States District Court for the Southern District of New York against Gridsum Holding, Inc. (NASDAQ: GSUM). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is April 27, 2017 through April 20, 2018. More specifically, this litigation was filed Defendants made false and/or misleading statements and/or failed to disclose that: (i) Gridsum lacked effective internal control over financial reporting; (ii) consequently, Gridsum’s financial statements were inaccurate and misleading, and did not fairly present, in all material respects, the financial condition and results of operations of the Company; and (iii) as a result of the foregoing, Gridsum’s public statements were materially false and misleading at all relevant times.

On April 23, 2018, Gridsum issued a press release announcing that its audit report for the Company’s financial statements for the year ended December 31, 2016 should no longer be relied upon. According to the press release, Gridsum’s auditor identified certain issues in conducting its audit of Gridsum’s financial results for the year ended December 31, 2017. Those issues related to certain revenue recognition, cash flow, cost, expense items, and their underlying documentation which the auditor had previously raised with Gridsum.

On this news, Gridsum’s American Depositary Receipt price fell $1.17 to close at $6.12 on April 23, 2018.

Plaintiff seeks to recover damages on behalf of all Gridsum Holding, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, June 25, 2018 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

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Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Gridsum Holding, Inc.

Gridsum Holding, Inc. [NASDAQ: GSUM] Investor Certification

Plaintiff Certifies That:

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# Shares Purchased	Date Of Purchase	Price Paid Per Share	Class Of Stock (e.g. Common)	If Sold, # Of Shares Sold	Date Sold (If Sold)	Per Share Selling Price