NEW YORK, Aug. 26, 2020 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of LexinFintech Holdings Ltd. (NASDAQ: LX) resulting from allegations that LexinFintech may have issued materially misleading business information to the investing public.
On August 25, 2020, Grizzly Research issued a research report on LexinFintech. In the report, Grizzly alleged, among other things, that LexinFintech reported “unfathomably low” delinquency rates by giving borrowers in default new funds to make payments and that LexinFintech engaged in undisclosed related party transactions. Furthermore, according to the report, a review of the Company’s web traffic calls into question the Company’s purported growth.
On this news, the price of LexinFintech American depositary shares (“ADSs”) fell over 5% over the rest of the trading day, to close at $8.04 per ADS on August 25, 2020.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by LexinFintech’s investors. If you purchased shares of LexinFintech, please visit the firm’s website at http://www.rosenlegal.com/cases-register-1936.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com