GlobeNewswire Inc | Aug 29, 2020 05:54PM EDT

August 29, 2020

NEW YORK, Aug. 29, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of LexinFintech Holdings Ltd. (LexinFintech or the Company) (NASDAQ:LX). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether LexinFintech and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On August 25, 2020, Grizzly Research (Grizzly) issued a research 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 LexinFintechs web traffic called into question the Companys purported growth.

On this news, LexinFintechs American depository share price fell $0.47 per share, or 5.52%, to close at $8.04 per share on August 25, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980