Lawsuit for Investors in Shares of Qudian Inc - ADR (NYSE: QD) Announced by Shareholders Foundation
SAN DIEGO, CA, January 24, 2018 (Newswire.com) - The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Qudian Inc – ADR (NYSE: QD) shares.
Investors who purchased shares of Qudian Inc - ADR (NYSE: QD) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On October 17, 2017, the initial public offering ("IPO") was priced at $24.00 per ADS. Then, on or about October 18, 2017, Qudian Inc filed the final prospectus for the IPO, which forms part of the Registration Statement. That same day, Qudian Inc ADSs began trading on the NYSE under the ticker symbol NYSE: QD. Shares of Qudian Inc - ADR (NYSE: QD) reached as high as $34.90 per share on October 19, 2017. Since then, NYSE: QD shares lost significant value and declined to as low as $11.33 per share on December 6, 2017.
On December 12, 2017, a securities class action lawsuit was filed Qudian Inc - ADR over alleged violations of Federal Securities Laws. The plaintiff alleges that the defendants violated federal securities laws by making false and/or misleading statements in the IPO's Registration Statement by failing to disclose that Qudian's loan collection practices were materially deficient and/or nonexistent as the Company treated bad loans as welfare, and that Qudian's data systems and procedures were materially inadequate to safeguard sensitive borrower data against breach, and that breaches had occurred.
Those who purchased Qudian Inc - ADR (NYSE: QD) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
SOURCE: Shareholders Foundation, Inc.
Source: Shareholders Foundation, Inc.
