BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of Yirendai Ltd. (“Yirendai” or the “Company”) (NYSE: YRD) concerning the Company and its officers’ possible violations of federal securities laws.
On August 24, 2016, Bloomberg reported that in an effort to curb risks in the loosely-regulated shadow-banking sector, China imposed limits on peer-to-peer lending. Specifically, the new regulations bar lenders from taking public deposits or selling wealth-management products, and require lenders to appoint qualified banks as custodians and improve information disclosure. Bloomberg also reported that the new regulations cap individual borrowing at 1 million yuan ($150,000).
On this news, shares of Yirendai fell over 22%, to close at $24.52 per share on August 24, 2016.
If you purchased Yirendai securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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