NEW YORK, Sept. 21, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased American Depositary Receipts (“ADR’s”) of PPDAI Group Inc. (“PPDAI” or the “Company”) (NYSE:PPDF).  If you purchased ADR’s of PPDAI Group Inc. directly on or subsequent to the Company’s initial public offering (“IPO”) on November 10, 2017, and incurred losses on your investment, please contact Wolf Haldenstein.

All investors who have incurred losses in ADR’s of PPDAI Group Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information about the firm on our website, www.whafh.com.

PPDAI Group Inc. provides consumer financing services. The Company offers online consumer financing platform and asset class consumer loan services. PPDAI Group serves clients in China.

The filed complaint  concerns whether PPDAI’s filings with the U.S. Securities and Exchange Commission (“SEC”) in connection with the IPO contained untrue statements of material fact or omitted material information regarding PPDAI’s business practices, the interest rates on loans made through PPDAI’s platform, or the quality of loans made through PPDAI’s platform.

In late November 2017, shortly after the IPO, ADR’s of PPDAI dropped significantly on concerns that the Chinese government was considering increased regulation of the peer-to-peer loan industry in order to curb usurious interest rates and other abuses.

Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this potential case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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