NEW YORK, NY / ACCESSWIRE / November 17, 2020 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.
Pintec Technology Holdings Limited (NASDAQ:PT)
If you suffered a loss, contact us at http://www.wongesq.com/pslra-1/pintec-technology-holdings-limited-loss-submission-form?prid=11004&wire=1.
Lead Plaintiff Deadline: November 30, 2020
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.
Allegations against PT include that: (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.
Turquoise Hill Resources Ltd. (NYSE:TRQ)
If you suffered a loss, contact us at http://www.wongesq.com/pslra-1/turquoise-hill-resources-ltd-loss-submission-form?prid=11004&wire=1.
Lead Plaintiff Deadline: December 14, 2020
Class Period: July 17, 2018 - July 31, 2019
Allegations against TRQ include that: (i) the progress of underground development of Oyu Tolgoi was not proceeding as planned; (ii) there were significant undisclosed underground stability issues that called into question the design of the mine, the projected cost, and timing of production; (iii) the company's publicly disclosed estimates of the cost, date of completion and dates for production from the underground mine were not achievable; (iv) the development capital required for the underground development of Oyu Tolgoi would cost substantially more than a billion dollars over what the company had represented; and (v) Turquoise Hill would require additional financing and/or equity to complete the project.
Wells Fargo & Company (NYSE:WFC)
If you suffered a loss, contact us at http://www.wongesq.com/pslra-1/wells-fargo-company-loss-submission-form-2?prid=11004&wire=1.
Lead Plaintiff Deadline: December 29, 2020
Class Period: October 13, 2017 - October 13, 2020
Allegations against WFC include that: 1) although defendants reassured investors that Wells Fargo's commercial credit portfolios were of exceptional credit quality and the product of robust, industry-leading underwriting and due diligence policies and procedures, Wells Fargo actually fueled its rapid commercial loan growth by lending to businesses that posed a heightened risk of default; 2) Wells Fargo systematically concealed these credit risks by artificially inflating the incomes generated by borrowing businesses, relaxing or failing to follow applicable underwriting procedures, and circumventing applicable risk controls; and 3) Wells Fargo exacerbated the threat posed by its defective commercial debt by packaging the loans into CLOs and CMBS and widely distributing these securitized products throughout the financial system.
To learn more, contact Vincent Wong, Esq. either via email [email protected] or by telephone at 212.425.1140.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: [email protected]
SOURCE: The Law Offices of Vincent Wong