NEW YORK, Dec. 13, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Qudian Inc. ("Qudian" or the "Company") (NYSE: QD). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Qudian and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around October 18, 2017, Qudian conducted its initial public offering ("IPO"), priced at $24.00 per American Depositary Share ("ADS"). On November 21, 2017, Bloomberg reported that Qudian had suffered a data breach that exposed information related to millions of the Company's users.
Following this news, Qudian's ADS price fell $3.93, or 19.57%, over the following two trading days, to close at $16.15 on November 22, 2017. Since the IPO, Qudian's ADS price has fallen more than 52% to a low of $11.49.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP