SHAREHOLDER ALERT: Goldberg Law PC Announces a Securities Class Action Lawsuit against Yirendai Ltd. & Encourages Investors w...
August 26 2016 - 09:49PM
Business Wire
Goldberg Law PC (the “Firm”) announces a class action lawsuit
has been filed against Yirendai Ltd. (“Yirendai Ltd.” or the
“Company”) (NYSE: YRD). Investors who purchased or otherwise
acquired shares between May 11, 2016 and August 24, 2016 (the
“Class Period”) are encouraged to contact the Firm in advance of
the October 25, 2016 lead plaintiff motion
deadline.
If you are a shareholder who suffered a loss during the Class
Period, click here to participate. In addition, we advise
you to contact Michael Goldberg or Brian Schall, of Goldberg Law
PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at
800-977-7401, to discuss your rights without cost to you. You can
also reach us through the firm’s website at
http://www.Goldberglawpc.com, or by email at
info@goldberglawpc.com.
The class in this case has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent 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.
Goldberg Law PC represents shareholders around the world and
specializes in securities class actions and shareholder rights
litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160826005846/en/
Goldberg Law PC, Los AngelesMichael Goldberg, Esq.,
800-977-7401Brian Schall, Esq.,
800-977-7401info@goldberglawpc.comwww.Goldberglawpc.com
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