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Lawsuits Filed Against PT, BIDU and CACC - Jakubowitz Law Pursues Shareholders Claims

·3 mins read

NEW YORK, NY / ACCESSWIRE / October 16, 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.

Pintec Technology Holdings Limited (NASDAQ:PT)

CONTACT JAKUBOWITZ ABOUT PT:
https://claimyourloss.com/securities/pintec-technology-holdings-limited-loss-submission-form/?id=10236&from=1

This lawsuit is on behalf of shareholders who purchased PT securities pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's October 2018 initial public offering.

Lead Plaintiff Deadline: November 30, 2020

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company erroneously recorded revenue earned from certain technical service fee on a net basis, rather than a gross basis; (2) there were material weaknesses in Pintec's internal control over financial reporting related to cash advances outside the normal course of business to Jimu Group, a related party, and to a non-routine loan financing transaction with a third-party entity, Plutux Labs; (3) as a result of the foregoing, the Company's financial results for fiscal 2017 and 2018 had been misstated; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Baidu, Inc. (NASDAQ:BIDU)

CONTACT JAKUBOWITZ ABOUT BIDU:
https://claimyourloss.com/securities/baidu-inc-loss-submission-form-2/?id=10236&from=1

Class Period: April 8, 2016 - August 13, 2020

Lead Plaintiff Deadline: October 19, 2020

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Baidu misrepresented the financial and business condition of iQIYI; (2) iQIYI had inadequate controls; and (3) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.

Credit Acceptance Corporation (NASDAQ:CACC)

CONTACT JAKUBOWITZ ABOUT CACC:
https://claimyourloss.com/securities/credit-acceptance-corporation-loss-submission-form/?id=10236&from=1

Class Period: November 1, 2019 - August 28, 2020

Lead Plaintiff Deadline: December 1, 2020

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Company was topping off the pools of loans that they packaged and securitized with higher-risk loans; (ii) Credit Acceptance was making high-interest subprime auto loans to borrowers that the Company knew borrowers would be unable to repay; (iii) the borrowers were subject to hidden finance charges, resulting in loans exceeding the usury rate ceiling mandated by state law; (iv) Credit Acceptance took excessive and illegal measures to collect debt from defaulted borrowers; (v) as a result, the Company was likely to face regulatory scrutiny and possible penalties from various regulators or lawsuits; and (vi) that, as a result of the foregoing, Defendants positive statements about the Company's business, operations, and adherence to appropriate laws and regulations were materially misleading and/or lacked a reasonable basis.

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.

CONTACT:

JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

SOURCE: Jakubowitz Law



View source version on accesswire.com:
https://www.accesswire.com/610854/Lawsuits-Filed-Against-PT-BIDU-and-CACC--Jakubowitz-Law-Pursues-Shareholders-Claims