NEW YORK, March 16, 2020 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a securities class action lawsuit on behalf of shareholders who bought shares Qudian Inc. (QD) between December 13, 2018 and January 15, 2020, inclusive (the “Class Period”).
If you wish to serve as lead plaintiff, you must move the Court no later than March 23, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the case go to http://zhanginvestorlaw.com/join-action-form/?slug=qudian-inc&id=2160or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email firstname.lastname@example.org, email@example.com for information on the class action.
According to the case, defendants made false and/or misleading statements and/or failed to disclose (1) regulatory developments in China threatened to negatively impact Qudian’s fiscal full year 2019 (“FY19”) financial results; (2) Qudian’s business was unprepared to mitigate the risks associated with these regulatory changes; (3) as a result, Qudian’s loan portfolio was plagued by growing delinquency rates; (4) all of the foregoing made Qudian’s repeated assertions concerning its FY19 financial guidance unrealistic; and (5) as a result of the foregoing, defendants’ statements about its business and operations were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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