Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of LexinFintech Holdings Ltd. (“LexinFintech” or the “Company) (NASDAQ: LX) to determine whether LexinFintech engaged in securities fraud or other unlawful business practices.
LexinFintech investors who purchased, or otherwise acquired, the Company’s common stock between April 30, 2019 and August 24, 2020, both dates inclusive (the “Class Period”), and suffered losses greater than $100,000 are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire or contact Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802, [email protected], [email protected], to discuss the securities investigation or potential legal claims.
According to a class action complaint filed on behalf of investors, throughout the Class Period, the LexinFintech defendants made false and/or misleading statements and/or failed to disclose that: (1) LexinFintech reported artificially low delinquency rates by giving borrowers in default new funds to make payments; (2) the Company’s business model exposes shareholders to enormous losses by prioritizing Chinese lenders for off-balance sheet loans; (3) LexinFintech exaggerated its user base; (4) the Company was facilitating direct peer to peer lending contrary to Chinese law; (5) LexinFintech engaged in undisclosed related party transactions; (6) the Company lacked adequate internal controls; and (7) as a result, the LexinFintech defendants’ public statements were materially false and/or misleading at all relevant times.