NEW YORK, Jan. 15, 2018 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Qudian Inc. (NYSE:QD) pursuant to and/or traceable to the Registration Statement and Prospectus issued in connection with Qudian’s initial public offering on or about October 18, 2017 (the “IPO”). The lawsuit seeks to recover damages for Qudian investors under the federal securities laws.

To join the Qudian class action, go to http://rosenlegal.com/cases-1255.html or call Phillip Kim, Esq. or Daniel Sadeh, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or dsadeh@rosenlegal.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

According to the lawsuit, defendants during the Class Period made materially false and/or misleading statements and/or failed to disclose that (1) Qudian’s loan collection practices were materially deficient and/or nonexistent, as it treated bad loans as welfare; and (2) Qudian’s data systems and procedures were materially inadequate to safeguard sensitive borrower data against breach, and breaches had occurred. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 12, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://rosenlegal.com/cases-1255.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Daniel Sadeh, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or dsadeh@rosenlegal.com.

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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.

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Contact Information:
      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      Daniel Sadeh, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 34^th Floor
      New York, NY  10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      lrosen@rosenlegal.com
      pkim@rosenlegal.com
      dsadeh@rosenlegal.com
      www.rosenlegal.com