LOS ANGELES, CA / ACCESSWIRE / September 23, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class-action lawsuit against LexinFintech Holdings Ltd. ("LexinFintech" or "the Company") (NASDAQ:LX) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between April 30, 2019 and August 24, 2020, inclusive (the ''Class Period''), are encouraged to contact the firm before November 9, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. LexinFintech engaged in a scheme to report an artificially low delinquency rate by giving borrowers in danger of default funds to make payments. The Company prioritized Chinese lenders for certain transactions, exposing shareholders to huge risk. The Company exaggerated its user base and helped its actual users to engage in peer to peer lending contrary to local laws. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about LexinFintech, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm