9F ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against 9F, Inc. and Encourages Investors to Contact the Firm
NEW YORK–(BUSINESS WIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the US District Court for the New Jersey District on behalf of investors who have purchased 9F, Inc. (NASDAQ: JFU) securities as listed in the Company’s initial public offering on or about August 14, 2019 (the “Initial Public Offering” or the “Offering”) and / or traceable; or between August 14, 2019 and September 29, 2020 (the “Class Period”). Investors have until March 22, 2021 to apply to the court for appointment as the lead plaintiff in the lawsuit.
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In August 2019, the defendants held the IPO and, according to the registration statement, sold around 8.9 million American securities account shares (“ADS”) to the investing public at a price of USD 9.50 per ADS.
At the start of this promotion, the company’s shares are trading well below the IPO price.
The complaint, filed on January 20, 2021, alleges that the materials supporting the offering and the defendants made false and / or misleading statements and / or failed to disclose throughout the classroom that: (1) the alleged value and the benefits of the Company’s financial institution’s financial institution’s partners and its three-party business model did not actually exist and / or have been significantly overrated as 9F and Property and Casualty Company Limited (“PICC”) are in an ongoing contractual dispute over payment services involved fees under the cooperation agreement; (2) The recoverability of the 9F service fees owed by PICC under the Cooperation Agreement was in doubt and there was a serious risk of non-payment. (3) There was a significant risk that PICC would no longer offer credit insurance or guarantee protection to investors and institutional financing partners. (4) As a result of the foregoing, the company’s platform, business model, reputation and financial results had been significantly affected. and (5) as a result, Defendants’ statements about the Company’s business, operations and prospects were materially false and misleading and / or were unfounded at all relevant times. When the real details hit the market, the lawsuit alleged that investors suffered damage.
If during the Class Period you have purchased and / or attributed to the IPO or 9F Securities and / or have suffered a loss, have information, want to learn more about these claims, or have questions about this announcement or your rights or interests With regard to these matters, please contact Brandon Walker, Melissa Fortunato or Marion Passmore by email at firstname.lastname@example.org, by phone at (212) 355-4648, or by completing this contact form. There are no costs or obligations for you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.