EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Against Yirendai Ltd. - YRD

Rosen Law Firm, a global investor rights law firm, announces that a class action lawsuit has been filed on behalf of purchasers of Yirendai Ltd. securities (NYSE:YRD) from May 11, 2016 through August 24, 2016, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Yirendai investors under the federal securities laws.

To join the Yirendai class action, go to the website at http://www.rosenlegal.com/cases-948.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@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 throughout the Class Period made false and/or misleading statements and/or failed to disclose that (1) Yirendai was experiencing increasing fraud related to customer applications for its loan products; (2) the implementation of new anti-fraud regulations by the Chinese government could have a negative impact on Yirendai’s performance; and (3) as a result, defendants’ statements about Yirendai’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis. 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 October 25, 2016. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-948.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160829006036/en/