NEW YORK, NY / ACCESSWIRE / October 19, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
PT Shareholders Click Here: https://www.zlk.com/pslra-1/pintec-technology-holdings-limited-loss-form?prid=10286&wire=1
FSLY Shareholders Click Here: https://www.zlk.com/pslra-1/fastly-inc-information-request-form?prid=10286&wire=1
CACC Shareholders Click Here: https://www.zlk.com/pslra-1/credit-acceptance-corporation-loss-submission-form?prid=10286&wire=1
* ADDITIONAL INFORMATION BELOW *
Pintec Technology Holdings Limited (NASDAQ:PT)
This lawsuit is on behalf of shareholders who purchased PT securities pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's October 2018 initial public offering.
Lead Plaintiff Deadline: November 30, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/pintec-technology-holdings-limited-loss-form?prid=10286&wire=1
According to the filed complaint, (1) the Company erroneously recorded revenue earned from certain technical service fee on a net basis, rather than a gross basis; (2) there were material weaknesses in Pintec's internal control over financial reporting related to cash advances outside the normal course of business to Jimu Group, a related party, and to a non-routine loan financing transaction with a third-party entity, Plutux Labs; (3) as a result of the foregoing, the Company's financial results for fiscal 2017 and 2018 had been misstated; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Fastly, Inc. (NYSE:FSLY)
FSLY Lawsuit on behalf of: investors who purchased May 6, 2020 - August 5, 2020
Lead Plaintiff Deadline: October 26, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/fastly-inc-information-request-form?prid=10286&wire=1
According to the filed complaint, during the class period, Fastly, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Fastly's largest customer was ByteDance, operator of TikTok, which was known to have serious security risks and was under intense scrutiny by U.S. officials; (2) there was a material risk that Fastly's business would be adversely impacted should any adverse actions be taken against ByteDance or TikTok by the U.S. government; and (3) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Credit Acceptance Corporation (NASDAQ:CACC)
CACC Lawsuit on behalf of: investors who purchased November 1, 2019 - August 28, 2020
Lead Plaintiff Deadline: December 1, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/credit-acceptance-corporation-loss-submission-form?prid=10286&wire=1
According to the filed complaint, during the class period, Credit Acceptance Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) the Company was topping off the pools of loans that they packaged and securitized with higher-risk loans; (ii) Credit Acceptance was making high-interest subprime auto loans to borrowers that the Company knew borrowers would be unable to repay; (iii) the borrowers were subject to hidden finance charges, resulting in loans exceeding the usury rate ceiling mandated by state law; (iv) Credit Acceptance took excessive and illegal measures to collect debt from defaulted borrowers; (v) as a result, the Company was likely to face regulatory scrutiny and possible penalties from various regulators or lawsuits; and (vi) that, as a result of the foregoing, Defendants positive statements about the Company's business, operations, and adherence to appropriate laws and regulations were materially misleading and/or lacked a reasonable basis.
You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
https://www.zlk.com
SOURCE: Levi & Korsinsky, LLP