GlobeNewswire Inc | Nov 4, 2020 02:40PM EST

November 04, 2020

NEW YORK, Nov. 04, 2020 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of LexinFintech Holdings Ltd. (NASDAQ: LX) (i) pursuant and/or traceable to LexinFintechs initial public offering (IPO) conducted on or about December 21, 2017; and/or (ii) betweenDecember 21, 2017 and August 24, 2020,inclusive (the Class Period). The lawsuit seeks to recover damages for LexinFintech Holdings Ltd. investors under the federal securities laws.

To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or emailinfo@pawarlawgroup.comfor information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) LexinFintech reported artificially low delinquency rates by giving borrowers in default new funds to make payments; (2) LexinFintechs business model exposes shareholders to enormous losses by prioritizing Chinese lenders for off-balance sheet loans; (3) LexinFintech exaggerated its user base; (4) LexinFintech was facilitating direct peer to peer lending contrary to Chinese law; (5) LexinFintech engaged in undisclosed related party transactions; (6) LexinFintech lacked adequate internal controls; and (7) as a result, defendants public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you wish to serve as lead plaintiff, you must move the Court no later than November 9, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.

Pawar Law Group represents investors from around the world. Attorney advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact:Vik Pawar, Esq.Pawar Law Group20 Vesey Street, Suite 1410New York, NY 10007Tel: (917) 261-2277Fax: (212) 571-0938info@pawarlawgroup.com