GlobeNewswire Inc | Sep 10, 2020 12:04PM EDT

September 10, 2020

PHILADELPHIA, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of LexinFintech Holdings Ltd. (LexinFintech or the Company) (NASDAQ: LX) to determine whether LexinFintech engaged in securities fraud or other unlawful business practices.

LexinFintech investors who purchased, or otherwise acquired, the Companys common stock between April 30, 2019 and August 24, 2020, both dates inclusive (the Class Period), and suffered losses greater than $100,000 are encouraged to complete Kehoe Law Firms Securities Class Action Questionnaire or contact Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802,securities@kehoelawfirm.com, info@kehoelawfirm.com, to discuss thesecurities investigation or potential legal claims.

According to a class action complaint filed on behalf of investors, throughout the Class Period, the LexinFintech defendants 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) the Companys business model exposes shareholders to enormous losses by prioritizing Chinese lenders for off-balance sheet loans; (3) LexinFintech exaggerated its user base; (4) the Company was facilitating direct peer to peer lending contrary to Chinese law; (5) LexinFintech engaged in undisclosed related party transactions; (6) the Company lacked adequate internal controls; and (7) as a result, the LexinFintech defendants public statements were materially false and/or misleading at all relevant times.

Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiffside law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.

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