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Shareholder Class Action Filed Against Qudian Inc.

Case Background:

On December 12, 2017, the initial complaint in this securities class action was filed against Qudian, Inc. (“Qudian” or the “Company”), and certain of Qudian’s directors and officers, asserting violations of sections 11 and 15 of the Securities Act.  On July 27, 2018, Plaintiffs filed a Second Amended Complaint, which added certain underwriters as defendants to the action.

Lead Plaintiff alleges that defendants violated federal securities laws by making false and/or misleading statements in Quidian’s  Registration Statement filed in connection with its Initial Public Offering by failing to disclose that: (i) Qudian’s loan collection practices were materially deficient and/or nonexistent as the Company treated bad loans as welfare, and (ii) Qudian’s data systems and procedures were materially inadequate to safeguard sensitive borrower data against breach, and that breaches had occurred.

Current Status of Case:

On September 27, 2019, the Court issued an Order granting defendants’ Motion to Dismiss as to all the defendants who had been served and filed responses except for one defendant.  Thereafter, in November 2019, Lead Plaintiff served the Second Amended Complaint on the remaining defendants.  Certain of those defendants answered the complaint and others have filed a Motion to Dismiss the complaint which the parties are currently briefing.  This action is ongoing. 

If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-844-887-9500 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please complete this form and list your purchase and sale transaction(s) Qudian Inc.(“Qudian” or the “Company) (NYSE: QD) securities issued pursuant and/or traceable to IPO on or about October 17, 2017.

You may also contact James Maro, Jr., Esq. or Adrienne Bell, Esq. at 610.667.7706 or toll free at 844.887.9500, or you may submit your information via email at info@ktmc.com, or you may click here to print a PDF of this form.

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# of Shares
Price per Share
 
 
 
Principal Amount
Amount Paid
Series or CUSIP
 
 
 
# of Contracts
Price per Contract
Exercise Price
Expiration Date
Did you purchase shares of Qudian Inc. (2018) prior to the Class Period?
Are you a current or former employee of Qudian Inc. (2018)?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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