The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of 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.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. PPDAI administered an IPO in November 2017, issuing 17 million ADSs at $13 per ADS. Shortly after the IPO was completed, Chinese government regulators issued an order banning new peer-to-peer licenses, blaming illegal and/or improper practices by companies such as PPDAI including high interest rates and illegal collections for the decision. Based on this news, the Companys ADS price fell more than 24% on November 22, 2017.
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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.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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