PPDAI Group Inc. Class Action Lawsuit - PPDF

(1) PPDAI was engaged in predatory lending practices that saddled subprime borrowers and those with poor or limited credit histories with high interest rate debt they could not repay; (2) many of PPDAI’s customers were using PPDAI-provided loans to repay existing loans they otherwise could not afford to repay, thereby inflating PPDAI’s revenues and active borrower numbers and increasing the likelihood of defaults; (3) PPDAI was experiencing increasing delinquency rates, negatively affecting PPDAI’s reserves; (4) PPDAI’s purported “rapid growth” in the number and amount of loans had materially dropped off; (5) PPDAI was providing online loans to college students despite a government ban on the practice; (6) PPDAI was engaged in overly aggressive and improper collection practices; and (7) as a result of its improper lending, underwriting, and collection practices, PPDAI was subject to heightened risk of adverse actions by Chinese regulators. When the true details entered the market, the lawsuit claims that investors suffered damages.

In order to be eligible to join the PPDF class action lawsuit, you must have incurred a loss on shares of purchased during the class period listed above.

If you suffered a loss in during the relevant time frame or pursuant to the relevant offering(s), you have until January 25, 2019 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 announces a securities class action has commenced in the United States District Court for the Eastern District of New York on behalf of PPDAI Group Inc. (NYSE: PPDF) shareholders who purchased American Depositary Shares (1) pursuant or traceable to the F-1 registration statement, the F-6 registration statement, and related Prospectus issued in connection with PPDAI’s initial public stock offering held on or about November 10, 2017 (the “IPO” or “Offering”) and/or (2) between November 10, 2017 and December 1, 2017. If you suffered a loss in PPDAI you have until January 25, 2019 to request that the Court appoint you as lead plaintiff.