Thieler Law Corp advises investors with losses exceeding $100,000 of the March 23, 2020 lead plaintiff deadline in a class action lawsuit filed against Qudian Inc (NYSE: QD)  (“Qudian” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Qudian Inc securities between December 13, 2018 and January 15, 2020, have until March 23, 2020 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Qudian 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 regulatory developments in China threatened to negatively impact Qudian’s fiscal full year 2019 (“FY19”) financial results; Qudian’s business was unprepared to mitigate the risks associated with these regulatory changes; as a result, Qudian’s loan portfolio was plagued by growing delinquency rates; all of the foregoing made Qudian’s repeated assertions concerning its FY19 financial guidance unrealistic; and as a result of the foregoing, defendants’ statements about its business and operations were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On January 16, 2020, the Company issued a press release announcing “that the Company withdraws its fiscal 2019 guidance and will not issue guidance in the near term due to uncertainty related to the recent regulatory and operating environment.” According to the press release “China’s online consumer finance industry was affected by several regulatory developments in the fourth quarter of 2019, including further restrictions on loan collection practices, more stringent user data privacy rules and the requirements for P2P lending platforms to orderly exit their P2P businesses,” which had “reduced the availability of funding for consumer credit and driven up delinquency rates across the industry, including the Company's loan portfolio.” In addition, Qudian announced that its board of directors had “approved a new share repurchase program . . . that authorized the Company to repurchase up to US$500 million worth of its American depositary shares (‘ADSs’), each representing one Class A ordinary share, and/or Class A ordinary shares during the next 30-month period.”

Following this news, NYSE: QD fell sharply during intraday trading on January 16, 2020.

If you were negatively impacted by your investment in Qudian Inc securities between December 13, 2018 and January 15, 2020 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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