Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Qudian Inc. (QD)

NEW YORK, NY / ACCESSWIRE / January 20, 2020 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Qudian Inc. ("Qudian" or the Company") (NYSE:QD). Investors who purchased Qudian securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/qd.

The investigation concerns whether Qudian and certain of its officers and/or directors have violated federal securities laws.

On January 16, 2020, Qudian issued a press release announcing "that the Company withdraws its fiscal 2019 guidance and will not issue guidance in the near term due to uncertainty related to the recent regulatory and operating environment." The press release stated that "China's online consumer finance industry was affected by several regulatory developments in the fourth quarter of 2019, including further restrictions on loan collection practices, more stringent user data privacy rules and the requirements for P2P lending platforms to orderly exit their P2P businesses," which had "reduced the availability of funding for consumer credit and driven up delinquency rates across the industry, including the Company's loan portfolio." Qudian further announced that its board of directors had "approved a new share repurchase program . . . that authorized the Company to repurchase up to US$500 million worth of its American depositary shares (‘ADSs'), each representing one Class A ordinary share, and/or Class A ordinary shares during the next 30-month period." On this news, Qudian's ADS price fell sharply during intraday trading on January 16, 2020.

If you are aware of any facts relating to this investigation, or purchased Qudian shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/qd. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

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