NEW YORK, Dec. 8, 2017 /PRNewswire/ -- Kaplan Fox
& Kilsheimer LLP (www.kaplanfox.com) is investigating Qudian
Inc. ("Qudian" or the "Company") (NYSE:QD)
on behalf of investors who purchased Qudian American Depository
Shares.
On October 17, 2017, Qudian issued
37.5 million American Depository Shares at $24 per share under a Registration Statement and
Prospectus filed with the U.S. Securities and Exchange Commission,
for gross proceeds of $900
million. According to Qudian's IPO prospectus, "[a]s a
provider of online credit products, we use big data-enabled
technologies, such as artificial intelligence and machine learning,
to transform the consumer finance experience in China."
On November 21, 2017, Chinese
media sources began to reveal that the personal information of
millions of Qudian customers were allegedly available for sale on
the black market. On November 23,
2017, Bloomberg reported that "Chinese regulators and
police are investigating a potential leak of data from online
lender Qudian Inc., according to people with knowledge of the
matter. Officials are probing allegations that data from more
than a million students who are clients of Beijing-based Qudian was leaked and possibly
sold online, said the people, who asked not to be named discussing
private information . . . The Chinese company's IPO prospectus
didn't mention any leaks of data containing customer information.
Violations of protecting personal information carries possible
penalties including shutdown of websites or cancellation of
business licenses under China's
Cybersecurity Law." Between November
21 and 23, 2017, Qudian shares declined over 36%.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New
York, San Francisco, Los
Angeles, Chicago and New Jersey, has decades of
experience in prosecuting investor class actions. For more
information about Kaplan Fox & Kilsheimer LLP or its
investigation, you may contact jcampisi@kaplanfox.com or visit our
website at www.kaplanfox.com.
If you have any questions about this press release, please
contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue; 14th Floor
New York, NY 10022
(212) 687-1980
(800) 290-1952
jcampisi@kaplanfox.com
www.kaplanfox.com
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SOURCE Kaplan Fox &
Kilsheimer LLP