LOS ANGELES, Aug. 28, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises LexinFinTech ("LexinFinTech" or the "Company") (NASDAQ: LX) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation focuses on whether the LexinFinTech issued misleading and/or false statements and/or failed to disclose information pertinent to investors. LexinFintech is the subject of a report issued by Grizzly Research on August 25, 2020. According to the report, the LexinFinTech reported delinquency rates that were “unfathomably low” by engaging in a scheme in which it provided funds to borrowers that were in default in order to make their payments. It is also claimed in this report that the LexinFinTech’s web traffic is far too low to match its purported rate of growth. Shares of LexinFintech fell sharply on that same day in response to this news.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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