SAN DIEGO & BEIJING--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP is investigating Pintec Technology Holdings Limited (NASDAQ: PT) for potential violations of federal securities laws. Pintec operates an online technology platform that enables financial services to users.
View this press release on the firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/pintec-technology-holdings-limited/
Pintec's Stock Falls Far Below IPO Price
In October 2018, Pintec completed its initial public offering ("IPO"), selling 3.7 American Depository Shares ("ADSs") at $11.88 per share. Then on April 30, 2019, Pintec admitted that it would be unable to file its 2018 annual report on time, which was its first Form 20-F filing since it had gone public. Since then, Pintec shares have traded as low as $2.80 per share, a 76% decline from its IPO price. The investigation focuses on whether Pintec issued false or misleading statements about the company's condition and failed to disclose pertinent information to investors.
Pintec Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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