NEW YORK, NY / ACCESSWIRE / November 2, 2020 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.
Lexinfintech Holdings, Ltd. (NASDAQ:LX)
CONTACT JAKUBOWITZ ABOUT LX:
This lawsuit is on behalf of shareholders who purchased or otherwise acquired: (a) Lexin American depositary shares pursuant and/or traceable to the Company's initial public offering conducted on or about December 21, 2017; or (b) Lexin securities between December 21, 2017 and August 24, 2020.
Lead Plaintiff Deadline : November 9, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) LexinFintech reported artificially low delinquency rates by giving borrowers in default new funds to make payments; (2) the Company's business model exposes shareholders to enormous losses by prioritizing Chinese lenders for off-balance sheet loans; (3) the Company exaggerated its user base; (4) the Company was facilitating direct peer to peer lending contrary to Chinese law; (5) the Company engaged in undisclosed related party transactions; (6) the Company lacked adequate internal controls; and (7) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Peabody Energy Corporation (NYSE:BTU)
CONTACT JAKUBOWITZ ABOUT BTU:
Class Period : April 3, 2017 - October 28, 2019
Lead Plaintiff Deadline : November 27, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) the Company had failed to implement adequate safety controls at the North Goonyella mine to prevent the risk of a spontaneous combustion event; (b) the Company failed to follow its own safety procedures; (c) as a result, the North Goonyella mine was at a heightened risk of shutdown; (d) the Company's low-cost plan to restart operations at the mine posed unreasonable safety and environmental risks; (e) The Australian body responsible for ensuring acceptable health and safety standards, the Queensland Mines Inspectorate, would likely mandate a safer, cost-prohibitive approach; and (f) as a result, there would be major delays in reopening the North Goonyella mine and restarting coal production.
Wells Fargo & Company (NYSE:WFC)
CONTACT JAKUBOWITZ ABOUT WFC:
Class Period : October 13, 2017 - October 13, 2020
Lead Plaintiff Deadline : December 29, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: 1) although defendants reassured investors that Wells Fargo's commercial credit portfolios were of exceptional credit quality and the product of robust, industry-leading underwriting and due diligence policies and procedures, Wells Fargo actually fueled its rapid commercial loan growth by lending to businesses that posed a heightened risk of default; 2) Wells Fargo systematically concealed these credit risks by artificially inflating the incomes generated by borrowing businesses, relaxing or failing to follow applicable underwriting procedures, and circumventing applicable risk controls; and 3) Wells Fargo exacerbated the threat posed by its defective commercial debt by packaging the loans into CLOs and CMBS and widely distributing these securitized products throughout the financial system.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE: Jakubowitz Law
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