| COMPANY |
360 DigiTech, Inc. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
21-cv-06013 |
| JUDGE |
The Honorable Alvin K. Hellerstein |
| CLASS PERIOD |
April 30, 2020 - July 7, 2021 |
| SECURITY TYPE |
All Securities |
Case Background:
The Class Period commences on April 30, 2020, when 360 DigiTech filed an Annual Report on a Form 20-F reporting its financial and operating results for the year ended December 31, 2019. In the Annual Report and throughout the Class Period, the defendants touted 360 DigiTech’s customer data protection practices and security systems that protect user information and abide by other network security requirements under such laws and regulations.
The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) 360 DigiTech had been collecting personal information in violation of relevant PRC laws and regulations; (2) accordingly, 360 DigiTech was exposed to an increased risk of regulatory scrutiny and/or enforcement action; and (3) as a result, 360 DigiTech’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
On July 26, 2022, the Court granted Defendants’ Motion to Dismiss with leave to amend the complaint. Lead Plaintiff filed a letter on September 26, 2022, advising that they would not amend the complaint. On September 28, 2022, the Court entered judgment in favor of the Defendants with prejudice. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com.