Yirendai Announces Dismissal of Class Action Lawsuit

BEIJING, July 12, 2017 /PRNewswire/ -- Yirendai Ltd. (NYSE: YRD) ("Yirendai" or the "Company"), today announced that the United States District Court for the Central District of California (the "Court") dismissed in its entirety a putative securities class action lawsuit brought against Yirendai and several executives concerning alleged misstatements or omissions in public releases and regulatory filings made by the Company.

Yirendai is pleased that the Court has dismissed the litigation and concluded that the plaintiff's action, which was not certified as a class action, shall be dismissed with prejudice.   

The lawsuit was docketed under Lefter v. Yirendai Ltd. et al., Civil Action No. 2:16-cv-06437-MWF-AGR (C.D. Cal.) in the United States District Court for the Central District of California.

About Yirendai

Yirendai Ltd. (NYSE: YRD) is a leading online consumer finance marketplace in China connecting investors and individual borrowers. The Company provides an effective solution to address largely underserved investor and individual borrower demand in China through an online platform that automates key aspects of its operations to efficiently match borrowers with investors and execute loan transactions. Yirendai deploys a proprietary risk management system, which enables the Company to effectively assess the creditworthiness of borrowers, appropriately price the risks associated with borrowers, and offer quality loan investment opportunities to investors. Yirendai's online marketplace provides borrowers with quick and convenient access to consumer credit at competitive prices and investors with easy and quick access to an alternative asset class with attractive returns. For more information, please visit yirendai.investorroom.com.

For investor and media inquiries, please contact: 

Yirendai
Hui (Matthew) Li
Director of Investor Relations
Email: [email protected]

Christensen
In China
Christian Arnell
Phone: +86 (0) 10-59001548
E-mail: [email protected]  

In U.S.
Linda Bergkamp
Phone: +1 (480) 614-3004
Email: [email protected]

SOURCE Yirendai Ltd.