GlobeNewswire Inc | Nov 11, 2020 02:10PM EST

November 11, 2020

NEW YORK, Nov. 11, 2020 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Pintec Technology Holdings Limited (NASDAQ: PT) pursuant and/or traceable to the registration statement issued in connection with the Companys October 2018 initial public offering (the IPO).

To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=pintec-technology-holdings-limited&id=2460 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=pintec-technology-holdings-limited&id=2460.

If you wish to serve as lead plaintiff, you must move the Court before the November 30, 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: the Company erroneously recorded revenue earned from certain technical service fees on a net basis, rather than a gross basis; there were material weaknesses in Pintecs internal control over financial reporting related to cash advances outside the normal course of business to Jimu Group, a related party, and to a non-routine loan financing transaction with a third-party entity, Plutux Labs; as a result of the foregoing, the Companys financial results for fiscal 2017 and 2018 had been misstated. 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