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INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation on Behalf of PPDAI Group Inc. Investors (PPDF)

September 26, 2018

BENSALEM, Pa.--(BUSINESS WIRE)--Sep 26, 2018--Law Offices of Howard G. Smith announces an investigation on behalf of PPDAI Group Inc. (“PPDAI” or the “Company”) (NYSE: PPDF ) investors concerning the Company and its officers’ possible violations of federal securities laws.

The Company conducted its initial public offering of 17 million American depositary shares in November 2017 at $13 per share.

Shortly after the IPO, however, Chinese regulators banned the issuance of new online peer-to-peer licenses, citing illegal practices by companies such as PPDAI. On this news, PPDAI’s share price fell $2.62 per share, or more than 24%, to close at $8.18 per share on November 22, 2017, thereby injuring investors.

Then, on December 1, 2017, Chinese regulators issued an order outlining specific guidelines meant to correct improper practices among online lenders such as PPDAI. On this news, PPDAI’s share price fell $2.44, or more than 25%, over several trading days, to close at $7.16 per share on December 7, 2017, thereby further injuring investors.

If you purchased PPDAI securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to  howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180926006118/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2018.

PUB: 09/26/2018 07:30 PM/DISC: 09/26/2018 07:30 PM

http://www.businesswire.com/news/home/20180926006118/en

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