Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against Fanhua, Inc.
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the November 6, 2018 deadline to file a lead plaintiff
motion in the class action filed on behalf of investors that purchased Fanhua, Inc. (“Fanhua” or the “Company”) (NASDAQ:
FANH) securities between April 20, 2018 and August 27, 2018, inclusive (the “Class Period”). Fanhua investors
have until November 6, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here
to participate.
On August 27, 2018, stock analyst Seligman Investments published an article labeling Fanhua a “questionable company” and
detailed a history of alleged fraud within the Company, including accounting irregularities in the Company’s second quarter 2018
financial results. On this news, Fanhua's ADS price fell $2.75 per share, or 10.52%, to close at $23.40 on August 27, 2018, thereby
injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and
misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants failed to
disclose that: (i) Fanhua engaged in improper business practices, including irregular accounting; (ii) the foregoing practices were
intended to benefit Company insiders and overstated Fanhua's financial assets and performance metrics; and (iii) as a result,
Fanhua's public statements were materially false and misleading at all relevant times.
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If you purchased shares of Fanhua, you may move the Court no later than November 6, 2018 to ask the Court to appoint you
as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with respect to these matters, please contact
Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free
at 888-773-9224, by email to shareholders@glancylaw.com, or visit
our website at
www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com
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