EXPANDED CLASS PERIOD ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against PPDAI Group Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against PPDAI Group Inc. (PPDAI or the Company) (NYSE: PPDF) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s shares pursuant to and/or traceable to the Registration Statement and Prospectus issued in connection with the Companys initial public offering in November 2017, or between November 10, 2017 and December 1, 2017 are encouraged to contact the firm before January 25, 2019.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. PPDAI engaged in predatory lending practices, saddling low-income borrowers with debt and interest payments they could not repay. Many of the Companys customers were using PPDAI loans to pay off other loans, raising the risk of default. PPDAI suffered from increasing delinquency rates, hurting the Companys reserves. PPDAI was also providing online loans to college students, ignoring a government ban on the practice. At the same time, the Company engaged in improper collection practices. Based on these facts, the Companys public statements at the time of its IPO were false and materially misleading. When the market learned the truth about PPDAI, investors suffered damages.

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Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
[email protected]