NEW YORK, NY / ACCESSWIRE / April 11, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Uxin Ltd. (''Uxin'' or the ''Company'') (NASDAQ: UXIN). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Uxin and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or around June 27, 2018, Uxin completed its initial public offering (''IPO''), issuing 25 million American depositary receipts (''ADRs'') priced at $9.00 per share. On November 20, 2018, Uxin reported that the transaction volume of its 2B business had declined 8.5% year-over-year and that gross merchandise value had declined 14.8% year-over-year due to the Company's decision to stop providing services such as inspections for its customers.
Following this announcement, Uxin's ADR price fell $0.60 per share, or 11.76%, to close at $4.50 per share on November 20, 2018, representing a total decline of $4.50 per share, or 50%, from the IPO price of $9.00 per share.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP