New York, New York--(Newsfile Corp. - July 16, 2021) - Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a Lead Plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of 360 DigiTech, Inc. ("360 DigiTech" or the "Company") (NASDAQ: QFIN) from April 30, 2020 through July 7, 2021 (the "Class Period"). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Exchange Act of 1934.
If you purchased 360 DigiTech securities, and/or would like to discuss your legal rights and options please visit: 360 DigiTech Shareholder Class Action Lawsuit or contact Noah Wiesner toll free at (877) 779-1414 or: nwiesner@bernlieb.com.
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company had been collecting personal information in violation of relevant People's Republic of China ("PRC") laws and regulations; (ii) accordingly, 360 DigiTech was exposed to an increased risk of regulatory scrutiny and/or enforcement action; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
On July 8, 2021, reports circulated on social media to the effect that the Company's core product, the 360 IOU app, had been removed from major app stores. The reports came on the heels of the removal of other companies' apps as Chinese regulators investigated their customer data protection practices.
On this news, 360 DigiTech's stock price fell $7.12 per share, or 21.48%, to close at $26.02 per share on July 8, 2021.
If you wish to serve as lead plaintiff, you must move the Court no later than September 13, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased 360 DigiTech securities, and/or would like to discuss your legal rights and options please visit: https://www.bernlieb.com/cases/360digitech-qfin-shareholder-class-action-lawsuit-fraud-stock-414/apply/ or contact Noah Wiesner toll free at (877) 779-1414 or: nwiesner@bernlieb.com
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information
Noah Wiesner
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
nwiesner@bernlieb.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90216.
