IRVINE, CA / ACCESSWIRE / October 13, 2016 / Khang & Khang LLP (the "Firm") announces a class action lawsuit against Yirendai Ltd. ("Yirendai" or the "Company") (YRD). Investors, who purchased or otherwise acquired shares between May 11, 2016 and August 24, 2016 inclusive (the "Class Period"), are encouraged to contact the Firm in advance of the October 25, 2016 lead plaintiff motion deadline.
If you purchased Yirendai shares during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at firstname.lastname@example.org.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The complaint alleges that during the Class Period, Yirendai made false and/or misleading statements and/or failed to disclose: that the Company was experiencing increasing fraud related to customer applications for its loan products; that the implementation of new anti-fraud regulations by the Chinese government could have a negative impact on Yirendai's performance; and that as a result of the above, the Company's statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis. On August 24, 2016, Bloomberg reported that China imposed limits on peer-to-peer lending and also placed a new regulations cap on individual borrowing at 1 million yuan. When this information went public, the Yirendai stock price fell, causing investors harm.
If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at email@example.com.
This press release may constitute Attorney Advertising in certain jurisdictions.
Joon M. Khang, Esq.
SOURCE: Khang & Khang LLP