Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In 360 DigiTech To Contact Him Directly To Discuss Their Options
NEW YORK - (NewMediaWire) - August 25, 2021 - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against 360 DigiTech, Inc. (“360 DigiTech” or the “Company”) (NASDAQ: QFIN) and reminds investors of the September 9, 2021 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $50,000 investing in 360 DigiTech stock or options between April 30, 2020 and July 7, 2021 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/QFIN.
There is no cost or obligation to you.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company had been collecting personal information in violation of relevant PRC laws and regulations; (2) accordingly, 360 DigiTech was exposed to an increased risk of regulatory scrutiny and/or enforcement action; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On July 8, 2021, reports circulated on social media to the effect that the Company’s core product, the 360 IOU app, had been removed from major app stores. The reports came on the heels of the removal of other companies’ apps as Chinese regulators investigated their customer data protection practices.
On this news, 360 DigiTech’s stock price fell $7.12 per share, or 21.54%, to close at $26.02 per share on July 8, 2021.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding 360 DigiTech’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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