U.S. Markets closed

CLASS ACTION UPDATE for XYF, OPRA and BYND: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, NY / ACCESSWIRE / February 3, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.

X Financial (XYF)
XYF Lawsuit on behalf of:
investors who purchased X Financial American Depositary Shares pursuant and/or traceable to the Company's September 19, 2018 initial public offering.
Lead Plaintiff Deadline: February 7, 2020
Join the action: https://www.zlk.com/pslra-1/x-financial-loss-form?wire=3&prid=5401

About the XYF lawsuit: During the class period, X Financial allegedly made materially false and/or misleading statements and/or failed to disclose that: (i) the Company's total loan facilitation amount was not growing, but rather was contracting; (ii) the number of investors actively using X Financial's platform was shrinking; (iii) demand from small- and medium-sized enterprises for the Company's preferred loans was plummeting; (iv) the Company's preferred loans had performed so poorly that it had begun drastically scaling back its preferred loans in the first quarter of 2018, several months before the initial public offering ("IPO"), and was in the process of phasing out such loans completely; (v) demand for the Company's card loans was also plummeting; (vi) the revenue and loan facilitation growth provided in the registration statement leading up to the IPO was achieved by relaxed credit and due diligence standards, under which the Company had underwritten tens of millions of dollars' worth of poor quality loans that suffered from a disproportionately high risk of default as compared to the Company's earlier loan vintages; (vii) the Company was suffering from accelerated delinquency rates from poor quality loans that it had underwritten in the first, second, and third quarters of 2018, which had caused the Company's delinquency rate to sharply rise; (viii) the Company's product mix had significantly deteriorated; (ix) the Company's net revenue was on track to decline by 22% during the third quarter of 2018; and (x) as a result, the Registration Statement was materially false and/or misleading and failed to state information required to be stated therein.

To learn more about the X Financial class action, contact jlevi@levikorsinsky.com.

Opera Limited (OPRA)
OPRA Lawsuit on behalf of:
investors who purchased (a) Opera American depositary shares pursuant and/or traceable to the Company's initial public offering commenced on or about July 27, 2018 and/or (b) Opera securities between July 27, 2018 and January 15, 2020,
Lead Plaintiff Deadline: March 24, 2020
Join the action: https://www.zlk.com/pslra-1/opera-limited-loss-form?wire=3&prid=5401

About the OPRA lawsuit: Opera Limited allegedly made materially false and/or misleading statements and/or failed to disclose that: (i) Opera's sustainable growth and market opportunity for its browser applications was significantly overstated; (ii) Defendants' funded, owned, or otherwise controlled loan services applications and/or businesses relied on predatory lending practices; (iii) all the foregoing, once revealed, were reasonably likely to have a material negative impact on Opera's financial prospects, especially with respect to its lending applications' continued availability on the Google Play Store; and (iv) as a result, the Offering Documents and Defendants' statements were materially false and/or misleading and failed to state information required to be stated therein.

To learn more about the Opera Limited class action, contact jlevi@levikorsinsky.com.

Beyond Meat, Inc. (BYND)
BYND Lawsuit on behalf of:
investors who purchased May 2, 2019 - January 27, 2020
Lead Plaintiff Deadline: March 30, 2020
Join the action: https://www.zlk.com/pslra-1/beyond-meat-inc-loss-form?wire=3&prid=5401

About the BYND lawsuit: Beyond Meat, Inc. allegedly made materially false and/or misleading statements during the class period and/or failed to disclose that: (i) Beyond Meat's termination of its supply agreement with Don Lee constituted a breach of that agreement, thus exposing the Company to foreseeable legal liability and reputational harm; (ii) Beyond Meat and certain of its employees had doctored and omitted material information from a food safety consultant's report, which the Company represented as accurate to Don Lee; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

To learn more about the Beyond Meat, Inc. class action, contact jlevi@levikorsinsky.com.

You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
levi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP



View source version on accesswire.com:
https://www.accesswire.com/575065/CLASS-ACTION-UPDATE-for-XYF-OPRA-and-BYND-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders