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LAWSUITS FILED AGAINST PT, LX and BTU - Jakubowitz Law Pursues Shareholders Claims

·4 min read

NEW YORK, NY / ACCESSWIRE / November 6, 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=10777&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.

Lexinfintech Holdings, Ltd. (NASDAQ:LX)

CONTACT JAKUBOWITZ ABOUT LX:
https://claimyourloss.com/securities/lexinfintech-holdings-ltd-loss-submission-form/?id=10777&from=1

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:
https://claimyourloss.com/securities/peabody-energy-corporation-loss-submission-form/?id=10777&from=1

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.

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/615312/LAWSUITS-FILED-AGAINST-PT-LX-and-BTU--Jakubowitz-Law-Pursues-Shareholders-Claims