EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Against Yirendai Ltd. - YRD
August 29 2016 - 6:06PM
Business Wire
Rosen Law Firm, a global investor rights law firm, announces
that a class action lawsuit has been filed on behalf of purchasers
of Yirendai Ltd. securities (NYSE:YRD) from May 11, 2016 through
August 24, 2016, inclusive (the “Class Period”). The lawsuit seeks
to recover damages for Yirendai investors under the federal
securities laws.
To join the Yirendai class action, go to the website at
http://www.rosenlegal.com/cases-948.html or call Phillip Kim, Esq.
or Kevin Chan, Esq. toll-free at 866-767-3653 or email
pkim@rosenlegal.com or kchan@rosenlegal.com for information on the
class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, defendants throughout the Class Period
made false and/or misleading statements and/or failed to disclose
that (1) Yirendai was experiencing increasing fraud related to
customer applications for its loan products; (2) the implementation
of new anti-fraud regulations by the Chinese government could have
a negative impact on Yirendai’s performance; and (3) as a result,
defendants’ statements about Yirendai’s business, operations, and
prospects were false and misleading and/or lacked a reasonable
basis. When the true details entered the market, the lawsuit claims
that investors suffered damages.
A class action lawsuit has already been filed. If you wish to
serve as lead plaintiff, you must move the Court no later than
October 25, 2016. If you wish to join the litigation, go to
http://www.rosenlegal.com/cases-948.html or to discuss your rights
or interests regarding this class action, please contact, Phillip
Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at
866-767-3653 or via e-mail at pkim@rosenlegal.com or
kchan@rosenlegal.com.
Follow us for updates on LinkedIn:
https://www.linkedin.com/company/the-rosen-law-firm or on Twitter:
https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
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version on businesswire.com: http://www.businesswire.com/news/home/20160829006036/en/
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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