IMPORTANT INVESTOR ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against Yirendai Ltd. & Encourages Inve...
30 August 2016 - 8:36PM
Business Wire
Khang & Khang LLP (the “Firm”) announces a class action
lawsuit has been filed against Yirendai Ltd. (“Yirendai” or the
“Company”) (NYSE: YRD). Investors, who purchased or otherwise
acquired shares between May 11, 2016 and August 24, 2016 inclusive
(the “Class Period”), are encouraged to contact the Firm prior to
the October 25, 2016 lead plaintiff motion deadline.
If you purchased shares of Yirendai during the Class Period,
please contact Joon M. Khang, Esquire, of Khang & Khang, 18101
Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949)
419-3834, or via e-mail at joon@khanglaw.com.
There has been no class certification in this case. Until
certification occurs, you are not represented by an attorney. You
may choose to take no action and remain a passive class member.
According to the complaint, Yirendai made false and/or
misleading statements and/or failed to disclose: that the Company
was experiencing increasing fraud related to customer applications
for its loan products; that the implementation of new anti-fraud
regulations by the Chinese government could have a negative impact
on Yirendai’s performance; and that as a result of the above, the
Company’s statements about its business, operations, and prospects
were false and misleading and/or lacked a reasonable basis. On
August 24, 2016, Bloomberg reported that China imposed limits on
peer-to-peer lending and placed a new regulations cap on individual
borrowing at 1 million yuan. When this news was announced to the
public, shares of Yirendai fell in value, causing investors
harm.
If you wish to learn more about this lawsuit, or if
you have any questions concerning this notice or your rights,
please contact Joon M. Khang, a prominent litigator for almost two
decades, by telephone: (949) 419-3834, or via e-mail at
joon@khanglaw.com.
This press release may constitute Attorney Advertising in some
jurisdictions.
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version on businesswire.com: http://www.businesswire.com/news/home/20160830006347/en/
Khang & Khang LLPJoon M. Khang, Esq.Telephone:
949-419-3834Facsimile: 949-225-4474joon@khanglaw.com
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