NEW YORK, NY / ACCESSWIRE / January 23, 2020 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
Prudential Financial, Inc. (PRU)
Class Period: February 15, 2019 to August 2, 2019
Lead Plaintiff Deadline: January 27, 2020
The PRU lawsuit alleges Prudential Financial, Inc. made materially false and/or misleading statements and/or failed to disclose during the class period that: (a) the Company's reserve assumptions failed to account for adversely developing mortality experience in the Individual Life business segment; (b) the Company was not over-reserved, but instead, its reported reserves, particularly for the Individual Life business segment, were insufficient to satisfy its future policy benefits liabilities; and (c) the Company had materially understated its liabilities and overstated net income as a result of flawed assumptions in calculating mortality experience.
Learn about your recoverable losses in PRU: http://www.kleinstocklaw.com/pslra-1/prudential-financial-inc-loss-submission-form?id=5338&from=1
Fiat Chrysler Automobiles N.V. (FCAU)
Class Period: February 26, 2016 to November 20, 2019
Lead Plaintiff Deadline: January 31, 2020
The complaint alleges that throughout the class period Fiat Chrysler Automobiles N.V. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company employed a bribery scheme to obtain favorable terms in its collective bargaining agreement with United Automobile, Aerospace and Agricultural Implement Workers of America; (2) high-ranking Fiat officials were aware of and authorized the scheme; and (3) as a result, Defendants' statements about Fiat's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
Learn about your recoverable losses in FCAU: http://www.kleinstocklaw.com/pslra-1/fiat-chrysler-automobiles-n-v-loss-submission-form?id=5338&from=1
X Financial (XYF)
Class Period: 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
The complaint alleges that during the class period X Financial 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.
Learn about your recoverable losses in XYF: http://www.kleinstocklaw.com/pslra-1/x-financial-loss-submission-form?id=5338&from=1
Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: The Klein Law Firm
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