Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of PPDAI Group Inc (NYSE: PPDF) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of PPDAI Group Inc (NYSE: PPDF) concerning whether a series of statements by PPDAI Group Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On or around November 10, 2017, PPDAI conducted an initial public offering, issuing approximately 17 million American Depositary Shares to the investing public at $13 per share.
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.
Based in Shanghai, the People's Republic of China, and founded in 2007 PPDAI Group Inc operates an online consumer finance marketplace through its platform in the People's Republic of China.
If you purchased shares of PPDAI Group Inc (NYSE: PPDF) on or before November 21, 2017, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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