INVESTOR UPDATE: Rosen Law Firm Expands Class Period in PPDAI Group Inc. Investor Class Action to Include Purchasers Between November 10, 2017 and December 1, 2017 – PPDF

Rosen Law Firm, a global investor rights law firm, has filed a complaint
expanding the class period to include those who purchased or acquired
PPDAI Group Inc. (NYSE: PPDF) securities: (1) pursuant and/or traceable
to PPDAI’s Initial Public Offering (“IPO”) held on or around November
10, 2017; and/or (2) between November 10, 2017 and December 1, 2017,
inclusive (the “Class Period”). The Firm also reminds investors of the
important January 25, 2019 lead plaintiff deadline.

To join the PPDAI class action, go to https://www.rosenlegal.com/cases-1419.html
or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at
866-767-3653 or email [email protected]
or [email protected]
for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU
MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS
MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN
ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD
PLAINTIFF.

According to the lawsuit, defendants throughout the Class Period made
false and/or misleading statements and/or failed to disclose that: (1)
PPDAI was engaged in predatory lending practices that saddled subprime
borrowers and those with poor or limited credit histories with high
interest rate debt they could not repay; (2) many of PPDAI’s customers
were using PPDAI-provided loans to repay existing loans they otherwise
could not afford to repay, thereby inflating PPDAI’s revenues and active
borrower numbers and increasing the likelihood of defaults; (3) PPDAI
was experiencing increasing delinquency rates, negatively affecting
PPDAI’s reserves; (4) PPDAI’s purported “rapid growth” in the number and
amount of loans had materially dropped off; (5) PPDAI was providing
online loans to college students despite a government ban on the
practice; (6) PPDAI was engaged in overly aggressive and improper
collection practices; and (7) as a result of its improper lending,
underwriting, and collection practices, PPDAI was subject to heightened
risk of adverse actions by Chinese regulators. When the true details
entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as
lead plaintiff, you must move the Court no later than January 25, 2019.
A lead plaintiff is a representative party acting on behalf of other
class members in directing the litigation. If you wish to join the
litigation, go to https://www.rosenlegal.com/cases-1419.html
or to discuss your rights or interests regarding this class action,
please contact Phillip Kim, Esq. or Zachary Halper, Esq. of Rosen Law
Firm toll free at 866-767-3653 or via e-mail at [email protected]
or [email protected].

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Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class
Action Services for number of securities class action settlements in
2017. The firm has been ranked in the top 3 each year since 2013.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190109005851/en/