X Financial (XYF) Alert: Johnson Fistel Launches Investigation into X Financial; Investors Encouraged to Contact Firm

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Aug 23, 2019, 07:07 ET

SAN DIEGO, Aug. 23, 2019 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against X Financial (NYSE: XYF) for violations of federal securities laws. X Financial provides personal finance services in the People's Republic of China.

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. However, since the IPO, X Financial stock has plunged, on August 22, 2019, the stock closed at $2.64.

Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its September 2018 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company's business, and operations.

If you have information that could assist in this investigation, or if you are an X Financial shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP