CLASS ACTION UPDATE for GNUS, QTT and LX: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, NY / ACCESSWIRE / October 1, 2020 /Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
GNUS Shareholders Click Here:https://www.zlk.com/pslra-1/genius-brands-international-inc-information-request-form?prid=9732&wire=1
QTT Shareholders Click Here:https://www.zlk.com/pslra-1/qutoutiao-inc-information-request-form-2?prid=9732&wire=1
LX Shareholders Click Here:https://www.zlk.com/pslra-1/lexinfintech-holdings-ltd-information-request-form?prid=9732&wire=1
* ADDITIONAL INFORMATION BELOW *
Genius Brands International, Inc (NASDAQ:GNUS)
GNUS Lawsuit on behalf of: investors who purchased March 17, 2020 - July 5, 2020
Lead Plaintiff Deadline: October 19, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/genius-brands-international-inc-information-request-form?prid=9732&wire=1
According to the Genius Brands lawsuit defendants made false and/or misleading statements and/or failed to disclose material information regarding: (i) Nickelodeon's purported broadcast expansion of Genius's Rainbow Rangers cartoon; (ii) subscription fees for the Kartoon Channel!; and (iii) the Company's growth potential and overall prospects as a company.
Qutoutiao Inc. (NASDAQ:QTT)
This lawsuit is on behalf of persons and entities that: a) purchased or otherwise acquired Qutoutiao American Depositary Shares pursuant and/ortraceable to the registration statement and prospectus issued in connection with the Company's September 2018 initial public offering; and/or b) purchased or otherwise acquired Qutoutiao securities between September 14, 2018 and July 15, 2020.
Lead Plaintiff Deadline: October 19, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/qutoutiao-inc-information-request-form-2?prid=9732&wire=1
According to the filed complaint, (1) Qutoutiao replaced its advertising agent with a related party, thereby bypassing third-party oversight of the content and quality of the advertisements; (2) the Company placed advertisements on its mobile app for products whose claims could not be substantiated and thus were considered false advertisements under applicable regulations; (3) as a result, the Company would face increasing regulatory scrutiny and reputational harm; (4) as a result, the Company's advertising revenue was reasonably likely to decline; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Lexinfintech Holdings, Ltd. (NASDAQ:LX)
This lawsuit is on behalf of shareholders who purchased or otherwise acquired: (a) Lexin American depositary shares pursuant and/or traceable to the Company's initial public offering conducted on or about December 21, 2017; or (b) Lexin securities between December 21, 2017 and August 24, 2020.
Lead Plaintiff Deadline: November 9, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/lexinfintech-holdings-ltd-information-request-form?prid=9732&wire=1
According to the filed complaint, (1) LexinFintech reported artificially low delinquency rates by giving borrowers in default new funds to make payments; (2) the Company's business model exposes shareholders to enormous losses by prioritizing Chinese lenders for off-balance sheet loans; (3) the Company exaggerated its user base; (4) the Company was facilitating direct peer to peer lending contrary to Chinese law; (5) the Company engaged in undisclosed related party transactions; (6) the Company lacked adequate internal controls; and (7) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE:Levi & Korsinsky, LLP
View source version on accesswire.com:
© 2020 Accesswire. All Rights Reserved.