GlobeNewswire Inc | Oct 6, 2020 12:48PM EDT

October 06, 2020

NEW YORK, Oct. 06, 2020 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought 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 investor losses under the federal securities laws.

To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=lexinfintech-holdings-ltd&id=2424 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or emailinfo@zhanginvestorlaw.comfor information on the class action.

http://zhanginvestorlaw.com/join-action-form/?slug=lexinfintech-holdings-ltd&id=2424

If you wish to serve as lead plaintiff, you must move the Court before the November 9, 2020 DEADLINE. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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.

Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.

Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.99 Wall Street, Suite 232New York, New York 10005info@zhanginvestorlaw.comtel: (800) 991-3756