LOS ANGELES–(BUSINESS WIRE)–$LX #LX—The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of LexinFintech Holdings Ltd. (“LexinFintech” or “the Company”) (NASDAQ: LX) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading 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 Company reported “unfathomably low” delinquency rates by engaging in a scheme in which it provided funds to borrowers in default to make their payments. The report also claims that the Company’s web traffic is far too low to match its purported rate of growth. Based on this news, shares of LexinFintech fell sharply the same day.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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