Shareholder Alert: Robbins LLP Announces X Financial (XYF) Sued for Misleading Shareholders
X Financial American Depositary Shares, each representing six Class A Ordinary Shares (XYF)
Last x financial american depositary shares, each representing six class a ordinary shares earnings: 3/18 05:20 pm
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Source: Business Wire
SAN DIEGO & SHENZHEN, China--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP announces that a purchaser of X Financial (NYSE: XYF) has sued the Company for alleged violations of the Securities Act of 1933 pursuant to its September 2018 initial public offering ("IPO"). X Financial provides personal finance services in the People's Republic of China.If you suffered a loss as a result of X Financial's misconduct, click here.X Financial (XYF) Accused of Misleading Investors in IPOAccording to the complaint, X Financial completed its IPO on September 19, 2018, offering 11.7 million American Depositary Shares ("ADSs") at $9.50 per ADS and raising more than $111 million in gross proceeds. In its Registration Statement, X Financial touted that the increase in borrowers for its Xiaoying Preferred Loan "will drive continued growth in [its] borrower base" and that the Company had "experienced significant growth in the amount of loans facilitated." Despite its positive forward-lookin
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- Here's Why We Think X Financial (NYSE:XYF) Is Well Worth Watching [Yahoo! Finance]Yahoo! Finance