LOS ANGELES–(BUSINESS WIRE)–$LX #classaction—The Law Offices of Frank R. Cruz announces an investigation on behalf of LexinFintech Holdings Ltd. (“LexinFintech” or the “Company”) (NASDAQ: LX) investors concerning the Company’s possible violations of federal securities laws.
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On August 25, 2020, Grizzly Research issued a report, alleging, among other things, that LexinFintech is “reporting artificially low delinquency rates by essentially giving borrowers who are already in default new funds to make payments” and that the Company engaged in undisclosed related party transactions. The report also questioned the Company’s purported growth, citing a review of LexinFintech’s web traffic.
On this news, the Company’s share price fell $0.47, or 5%, to close at $8.04 per share on August 25, 2020, thereby damaging investors.
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If you purchased LexinFintech securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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