An investigation for investors in X Financial (NYSE: XYF) shares over potential securities laws violations by X Financial was announced.
San Diego, CA -- (SBWIRE) -- 09/18/2019 -- X Financial is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of X Financial (NYSE: XYF), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by X Financial regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based X Financial provides personal finance services in the People's Republic of China. X Financial reported that its annual Total Revenue rose from over 1.78 billion CNY in 2017 to over 3.54 billion CNY in 2018 and that its Net Income increased from 340.27 million CNY in 2017 to 883.11 million CNY in 2018. On or about September 19, 2018, X Financial sold 11 million shares of stock in its initial public stock offering (the "IPO"), at $9.50 a share raising $104,500,000 in new capital.
Since then shares of X Financial (NYSE: XYF) declined to as low as $2.47 per share on August 13, 2019.
Those who purchased shares of X Financial (NYSE: XYF) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in conftact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.