Kessler Topaz Meltzer & Check, LLP Reminds Investors of Deadline for Securities Fraud Class Action Lawsuit Filed Against 360 DigiTech, Inc.

RADNOR, Pa., July 24, 2021 / PRNewswire / – Law firm Kessler Topaz Meltzer & Check, LLP announces to investors of 360 DigiTech, Inc. (NASDAQ: QFIN) (“360 DigiTech”) that a class action lawsuit for securities fraud has been filed on behalf of the 360 ​​DigiTech, Inc. DigiTech securities bought or acquired between April 30, 2020 and July 7, 2021, including (the “Class Period”).

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Deadline Reminder: Investors who have purchased or acquired 360 DigiTech securities during the class period can request no later than September 13, 2021to be appointed as the group’s lead plaintiff. For more information or to learn how to participate in this litigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; by email to [email protected]; or click on https://www.ktmc.com/360-digitech-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=360_digitech

360 DigiTech operates a digital consumer finance platform under the brand name 360 ​​Jietiao in People’s Republic of China (“People’s Republic of China”). The platform offers online consumer finance products to borrowers funded by institutional funding partners. Throughout the class action period, defendants have extolled 360 DigiTech’s privacy practices and security systems that protect user information and meet other network security requirements under those laws and regulations.

The truth was revealed on July 8, 2021when reports spread on social media that 360 DigiTech’s core product, the 360 ​​IOU app, had been removed from major app stores. The reports followed the removal of other companies’ apps as Chinese regulators investigated their privacy practices for customers. For example an article in the 21st Century Business Herald over and over July 8, 2021 showed that “[t]The reason for the deletion may be related to the discussions with the central bank and other financial regulators April 29th this year about 13 internet financial platforms and request rectification. “

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After this news, 360 DigiTech’s share price fell $ 7.12 per share, or 21.48% to close on $ 26.02 per share July 8, 2021.

The lawsuit alleges that during the class action period, defendants made false and / or misleading information and / or failed to disclose: (1) 360 DigiTech collected personal information in violation of relevant laws and regulations of the People’s Republic of China; (2) accordingly, 360 DigiTech has been exposed to an increased risk of regulatory review and / or enforcement action; and (3) as a result, 360 DigiTech’s public statements at all relevant times have been materially false and misleading.

360 DigiTech investors can at the latest September 13, 2021, attempt to be appointed as lead class representative by Kessler Topaz Meltzer & Check, LLP, or other legal counsel, or they may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in the conduct of the dispute. To be appointed as a lead plaintiff, the court must determine that the class plaintiff’s claim is typical of the claims of other class plaintiffs and that the class plaintiff is adequately representing the class action. Your ability to participate in a recovery will not be affected by whether or not you want to be the lead plaintiff.

Kessler Topaz Meltzer & Check, LLP pursues class actions in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of state and federal laws. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, recovering billions of dollars on behalf of institutional and private investors The United States and all over the world. The firm represents investors, consumers and whistleblowers (individuals who report fraudulent practices to the government and participate in recovery of government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:
Kessler Topas Meltzer & Check, LLP
James Maro, Jr., Esq.
280 König-von-Preußen-Strasse
Radnor, PA 19087
(844) 887-9500 (toll free)
[email protected]

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SOURCE Kessler Topas Meltzer & Check, LLP

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