PR Newswire | Oct 6, 2020 02:43PM EDT

Securities Fraud

10/06 13:43 CDT

Investor Alert: Kaplan Fox Investigates LexinFintech Holdings For Potential Securities Fraud NEW YORK, Oct. 6, 2020

NEW YORK, Oct. 6, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of LexinFintech Holdings Ltd. ("LexinFintech" or the "Company") (NASDAQ: LX). A complaint has been filed on behalf of investors who purchased or otherwise acquired LexinFintech American Depositary Shares (ADSs) pursuant to or traceable to the Company's December 2017 initial public offering.

On August 25, 2020, Grizzly Research issued a research report (the "Grizzly Report") on LexinFintech alleging, among other issues, that the Company reported "unfathomably low" delinquency rates by giving borrowers in default new funds to make payments and that LexinFintech engaged in undisclosed related party transactions. The Grizzly report further alleged that a review of LexinFintech's web traffic called into question the Company's purported growth.

Following this news, LexinFintech's ADSs fell $0.47 per share, or 5.52%, to close at $8.04 per share on August 25, 2020.

If you are a member of the proposed Class, you may move the court no later thanNovember 9, 2020 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 646-315-9003.

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

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:

Donald R. HallKAPLAN FOX & KILSHEIMER LLP850 Third Avenue, 14th FloorNew York, New York 10022(646) 315-9003E-mail: dhall@@kaplanfox.com

Laurence D. KingKAPLAN FOX & KILSHEIMER LLP1999 Harrison Street, Suite 1560Oakland, California 94612(415) 772-4704Fax: (415) 772-4707E-mail: lking@kaplanfox.com

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SOURCE Kaplan Fox & Kilsheimer LLP