The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Central District of California on behalf of investors who purchased Yirendai Ltd. (NYSE: YRD) securities between May 11, 2016 and August 24, 2016.
According to the complaint, during the Class Period, Yirendai made false and/or misleading statements and/or failed to disclose: (a) that the Company was experiencing increasing fraud related to customer applications for its loan products; (b) that the implementation of new anti-fraud regulations by the Chinese government could have a negative impact on Yirendai’s performance; (c) and that as a result of the above, the Company’s statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
If you suffered a loss in Yirendai you have until October 25, 2016 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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