The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Oregon on behalf of investors in Lexinfintech Holdings, Ltd. (NASDAQ: LX) who purchased: (a) Lexin American depositary shares pursuant and/or traceable to the Company’s initial public offering conducted on or about December 21, 2017; or (b) Lexin securities between December 21, 2017 and
August 24, 2020.
According to the Lexinfintech lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) LexinFintech reported artificially low delinquency rates by giving borrowers in default new funds to make payments; (2) the Company's business model exposes shareholders to enormous losses by prioritizing Chinese lenders for off-balance sheet loans; (3) the Company exaggerated its user base; (4) the Company was facilitating direct peer to peer lending contrary to Chinese law; (5) the Company engaged in undisclosed related party transactions; (6) the Company lacked adequate internal controls; and (7) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in Lexinfintech you have until November 9, 2020 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.
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