NEW YORK--(BUSINESS WIRE)--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against LexinFintech Holdings Ltd. ("LexinFintech" or the "Company") (NASDAQ: LX) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired LexinFintech securities (a) pursuant and/or traceable to the Company' s initial public offering conducted on or about December 21, 2017 (the "IPO" or "Offering"); or b) purchased or otherwise acquired LexinFintech between December 21, 2017 through August 24, 2020, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/lx.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933 and the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) LexinFintech Holdings Ltd. reported artificially low delinquency rates by giving borrowers in default new funds to make payments; (2) the Company's business model exposes shareholders to enormous losses by prioritizing Chinese lenders for off-balance sheet loans; (3) the Company exaggerated its user base; (4) the Company was facilitating direct peer to peer lending contrary to Chinese law; (5) the Company engaged in undisclosed related party transactions; (6) the Company lacked adequate internal controls; and (7) as a result, defendants' public statements were materially false and/or misleading at all relevant times.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/lx or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in LexinFintech you have until November 9, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.