NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, is investigating whether PPDAI Group Inc. (“PPDAI” or the “Company”) (NYSE:PPDF) or certain of its officers and directors violated federal securities laws. If you purchased PPDAI stock in or after the Company’s November 2017 initial public offering (“IPO”), you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for more information.
PPDAI is an online consumer finance market based in China that connects borrowers and investors. PPDAI’s business is a form of peer-to-peer lending in which borrowers and lenders bypass traditional financial intermediaries. PPDAI generates revenue by charging borrowers and lenders fees for loan facilitation and other services.
This investigation concerns whether PPDAI’s filings with the U.S. Securities and Exchange Commission in connection with the IPO contained untrue statements of material fact or omitted material information regarding PPDAI’s business practices, the interest rates on loans made through PPDAI’s platform, or the quality of loans made through PPDAI’s platform.
In late November 2017, shares of PPDAI stock dropped significantly on concerns that the Chinese government was considering increased regulation of the peer-to-peer loan industry in order to curb usurious interest rates and other abuses.
What You Can Do
If you purchased PPDAI common stock and you wish to discuss this investigation, please contact attorney Joe Pettigrew at (844) 818-6982, or at jpettigrew@scott-scott.com, or visit the PPDAI investigation page on our website at https://scott-scott.com/investigation/ppdai-group-inc/.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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