BEIJING, July 12, 2017 /PRNewswire/ -- Yirendai Ltd.
(NYSE: YRD) ("Yirendai" or the "Company"), today announced that the
United States District Court for the Central District of
California (the "Court") dismissed
in its entirety a putative securities class action lawsuit brought
against Yirendai and several executives concerning alleged
misstatements or omissions in public releases and regulatory
filings made by the Company.
Yirendai is pleased that the Court has dismissed the litigation
and concluded that the plaintiff's action, which was not certified
as a class action, shall be dismissed with prejudice.
The lawsuit was docketed under Lefter v. Yirendai Ltd. et al.,
Civil Action No. 2:16-cv-06437-MWF-AGR (C.D. Cal.) in the United States District Court
for the Central District of California.
About Yirendai
Yirendai Ltd. (NYSE: YRD) is a leading online consumer finance
marketplace in China connecting
investors and individual borrowers. The Company provides an
effective solution to address largely underserved investor and
individual borrower demand in China through an online platform that
automates key aspects of its operations to efficiently match
borrowers with investors and execute loan transactions. Yirendai
deploys a proprietary risk management system, which enables the
Company to effectively assess the creditworthiness of borrowers,
appropriately price the risks associated with borrowers, and offer
quality loan investment opportunities to investors. Yirendai's
online marketplace provides borrowers with quick and convenient
access to consumer credit at competitive prices and investors with
easy and quick access to an alternative asset class with attractive
returns. For more information, please visit
yirendai.investorroom.com.
For investor and media inquiries, please
contact:
Yirendai
Hui (Matthew)
Li
Director of Investor Relations
Email: matthewli@yirendai.com
Christensen
In China
Christian Arnell
Phone: +86 (0) 10-59001548
E-mail: carnell@christensenir.com
In U.S.
Linda Bergkamp
Phone: +1 (480) 614-3004
Email: lbergkamp@ChristensenIR.com
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SOURCE Yirendai Ltd.