SHAREHOLDER ALERT: Investigates Claims On Behalf of Investors of PPDAI Group, Inc. – PPDF

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is investigating claims on behalf of investors of PPDAI Group, Inc. (“PPDAI” or the “Company”) ( NYSE: PPDF ). Such investors are advised to 888-476-6529, ext. 9980.
The investigation concerns whether PPDAI and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here to join a class action]
On or around November 10, 2017, PPDAI conducted an initial public offering (the “IPO”), issuing approximately 17 million American Depositary Shares (“ADSs”) to the investing public at $13 per share. On November 21, 2017, Chinese regulators issued an administrative order banning the issuance of new online peer-to-peer licenses, citing improper and illegal practices by companies such as PPDAI, including extremely high-interest rates, illegal collections, and lack of risk management. Following this news, PPDAI’s ADS price fell $2.62 per share, or 24.3%, to close at $8.18 per share on November 22, 2017.
Then, on December 1, 2017, Chinese regulators issued another order, outlining specific guidelines meant to correct improper practices among online lenders such as PPDAI, including, among other things, a 36% cap on annualized interest or fees charged on lending products, enhanced risk management requirements, and stricter restrictions on aggressive collection practices. On this news, PPDAI’s ADS price fell $2.44 per share, or 25.4%, over the following trading sessions, closing at $7.16 per share on December 7, 2017.
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888-476-6529 ext. 9980
Related Stocks: Ppdai Group Inc

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