Thieler Law Corp advises investors with losses exceeding $100,000 of the January 25, 2019 lead plaintiff deadline in a class action lawsuit filed against PPDAI Group Inc. (NYSE: PPDF) (“PPDAI” or “the Company”). The suit is pending in the U.S. District Court for the Eastern District of New York and investors, who purchased PPDAI Group Inc securities pursuant or traceable to the Company’s November 2017 initial public offering (“IPO”), have until January 25, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased PPDAI Group Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that PPDAI was engaged in predatory lending practices that saddled subprime borrowers and those with poor or limited credit histories with high interest rate debt they could not repay; many of PPDAI’s customers were using PPDAI-provided loans to repay existing loans they otherwise could not afford to repay, thereby inflating PPDAI’s revenues and active borrower numbers and increasing the likelihood of defaults; PPDAI was experiencing increasing delinquency rates, negatively affecting PPDAI’s reserves; PPDAI’s purported “rapid growth” in the number and amount of loans had materially dropped off; PPDAI was providing online loans to college students despite a government ban on the practice; PPDAI was engaged in overly aggressive and improper collection practices; and as a result of its improper lending, underwriting, and collection practices, PPDAI was subject to heightened risk of adverse actions by Chinese regulators.

On November 21, 2017, Chinese regulators banned the issuance of new online peer-to-peer licenses, citing illegal practices by companies such as PPDAI.

Following this news, NYSE: PPDF fell $2.62 per share, or more than 24%, to close at $8.18 per share on November 22, 2017.

On December 1, 2017, Chinese regulators issued an order outlining specific guidelines meant to correct improper practices among online lenders such as PPDAI.

Following this news, NYSE: PPDF fell $2.44, or more than 25%, over several trading days, to close at $7.16 per share on December 7, 2017.

If you were negatively impacted by your investment in PPDAI Group Inc securities pursuant or traceable to the Company’s November 2017 initial public offering (“IPO”) and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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