Notice is hereby given that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Qudian Inc. (“Qudian” or the “Company) (NYSE: QD) securities issued pursuant and/or traceable to the Company’s initial public offering (“IPO”) on October 17, 2017, and/or purchased on the open market between October 18, 2017 and November 20, 2017.
Qudian Inc. investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, Qudian operates online consumer finance platforms in the People’s Republic of China. The Company offers small-sized cash credit products and merchandise credit products.
On or about October 18, 2017, Qudian completed an IPO of its securities, selling over 43 million shares to investors at $24.00 per share for gross proceeds of over $1 billion.
The stockholder class action complaints allege that the documents filed in connection with Qudian’s IPO were negligently prepared, contained untrue statements of material fact, and were not prepared in accordance with the rules and regulations governing their preparation. Among other things, the complaints allege that Qudian’s IPO documents failed to disclose that: (1) Qudian engaged into unethical business and accounting practices, (2) Qudian failed to maintain adequate control to ensure the protection and safety of its users’ personal information, and (3) consequently, Qudian was exposing detailed user data to leakages and online resale.
If you are a member of the class described above, you may no later than February 12, 2018 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. 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 toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at email@example.com. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at firstname.lastname@example.org