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HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Updates QFIN, SRAC, YMM Investors on Securities Fraud Lawsuits, Encourages Investors with Losses to Contact the Firm

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SAN FRANCISCO, CA / ACCESSWIRE / September 2, 2021 / Hagens Berman updates investors in the following publicly-traded companies and urges investors who have suffered significant losses to contact the firm. Further details about the cases, including important upcoming deadlines, can be found at the links provided.

QFIN Investors Click Here.

SRAC Investors Click Here.

YMM Investors Click Here.

360 DigiTech, Inc. (NASDAQ:QFIN) Securities Fraud Class Action:
Class Period: Apr. 30, 2020 - July 7, 2021

Lead Plaintiff Deadline: Sept. 13, 2021

Visit:www.hbsslaw.com/investor-fraud/QFIN

Contact An Attorney Now:QFIN@hbsslaw.com

844-916-0895

The complaint alleges that Defendants falsely claimed that 360 DigiTech protects the privacy of its borrowers and maintains high standards of compliance with People's Republic of China ("PRC") regulations, while omitting to disclose material facts.

Specifically, Defendants concealed that: (i) the company had been collecting personal information in violation of relevant PRC laws and regulations; and (ii) accordingly, 360 DigiTech was exposed to an increased risk of regulatory scrutiny and/or enforcement action.

The truth emerged on July 8, 2021, when reports circulated that 360 DigiTech's core product (the 360 IOU app) had been removed from major app stores. In addition, media outlets reported that reason for the removal may stem from interviews PRC financial regulators conducted of 360 DigiTech and other major Fintech platforms on Apr. 29, 2021, during which the PRC central bank reportedly pointed out that online platform companies like 360 DigiTech "generally have unlicensed or over-licensed financial services, imperfect corporate governance mechanisms, and regulatory arbitrage, Unfair competition [sic], damage to consumers' legal rights and other serious violations."

In response, the price of 360 DigiTech American Depositary Shares sharply fell on July 8, 2021.

"We're focused on investors' losses and proving 360 DigiTech concealed the risk posed by its personal information collection activities," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in 360 DigiTech and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.

Stable Road Acquisition Corp. (NASDAQ:SRAC) Securities Fraud Class Action:
Class Period: Oct. 7, 2020 - July 13, 2021

Lead Plaintiff Deadline: Sept. 13, 2021

Visit:www.hbsslaw.com/investor-fraud/SRAC

Contact An Attorney Now:SRAC@hbsslaw.com

844-916-0895

The Complaint alleges that Defendants misrepresented and concealed material facts about Stable Road's acquisition target, Momentus, a company that purports to operate in the commercial space industry.

Specifically, the Complaint alleges that in connection with the SPAC merger, Defendants falsely represented that Momentus "successfully tested" its key technology in space when, in fact, the tests were not successful. The Complaint also alleges that Defendants concealed that Momentus' CEO Mikhail Kokorich presented a national security risk. Moreover, the Complaint alleges that Defendants misrepresented and concealed the shoddy due diligence Stable Road conducted on Momentus.

The truth began to emerge on Jan. 25, 2021, when Momentus announced the abrupt resignation of Kokorich as CEO.

Then, on July 13, 2021, the SEC announced charges against Stable Road, Momentus, Kokorich and others for making "misleading claims about Momentus' technology and about national security risks associated with Kokorich." The release stated that all parties other than Kokorich had settled the charges against them for $8 million in total, while the case against Kokorich continued. The same day, SEC also publicized a cease-and-desist order and complaint against Kokorich, which detailed Defendants' scheme to defraud investors in connection with the Momentus SPAC merger.

These disclosures caused the price of Stable Road securities to decline sharply, injuring investors.

"We're focused on investors' losses and proving Stable Road, Momentus and other insiders lied about Momentus' key technology and concealed the national security risks posed by Kokorich," said Reed Kathrein, the Hagens Berman partner leading the investigation.

Full Truck Alliance Co. Ltd. (NYSE:YMM) Securities Class Action:

Class Period: June 19, 2021 - July 12, 2021

Lead Plaintiff Deadline: Sept. 10, 2021

Visit:www.hbsslaw.com/investor-fraud/YMM

Contact An Attorney Now:YMM@hbsslaw.com

844-916-0895

According to the lawsuit, the company's IPO materials contained misleading statements about the risks that (1) Full Truck Alliance's Yunmanman and Huochebang apps would face an imminent cybersecurity review by the Cyberspace Administration of China ("CAC"), (2) the CAC would require the company to suspend new user registrations, and (3) the CAC would require First Truck Alliance to conduct a comprehensive review of any cybersecurity risks and remediate its systems and technologies as necessary.

Within a month of closing the IPO, investors began to learn the truth.

On July 5, 2021, Full Truck Alliance announced the CAC commenced a cybersecurity review of the Yunmanman and Huochebang apps and required the company to conduct a comprehensive review of cybersecurity risks, remediate deficiencies, and suspend new user registrations in China.

This news sent the price of Full Truck Alliance ADRs crashing lower on July 6, 2021.

"We're focused on investors' losses and proving Full Truck Alliance and senior management knew of the Chinese regulators' demands but nonetheless rushed to market without first satisfying those demands," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you are a Full Truck Alliance investor and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding 360 DigiTech, Stable Road, and/or Full Truck Alliance should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email QFIN@hbsslaw.com, SRAC@hbsslaw.com, and/or YMM@hbsslaw.com.

About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein
844-916-0895

SOURCE: Hagens Berman Sobol Shapiro LLP



View source version on accesswire.com:
https://www.accesswire.com/662626/HAGENS-BERMAN-NATIONAL-TRIAL-ATTORNEYS-Updates-QFIN-SRAC-YMM-Investors-on-Securities-Fraud-Lawsuits-Encourages-Investors-with-Losses-to-Contact-the-Firm