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Glancy Prongay & Murray LLP Announces Investigation on Behalf of PPDAI Group Inc. Investors (PPDF)

September 26, 2018

LOS ANGELES--(BUSINESS WIRE)--Sep 26, 2018--Glancy Prongay & Murray LLP (“GPM”) 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.

If you are a shareholder who suffered a loss, click  here  to participate.

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.

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If you purchased PPDAI shares, 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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/20180926006073/en/

CONTACT: Glancy Prongay & Murray LLP, Los Angeles/New York

Lesley Portnoy, 310-201-9150 or 888-773-9224

shareholders@glancylaw.com

www.glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2018.

PUB: 09/26/2018 05:45 PM/DISC: 09/26/2018 05:45 PM

http://www.businesswire.com/news/home/20180926006073/en

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