A lawsuit was filed on behalf of investors in Uxin Limited (NASDAQ: UXIN) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 02/12/2019 -- The Shareholders Foundation announces that an investor, who purchased shares of Uxin Limited (NASDAQ: UXIN), filed a lawsuit over alleged violations Securities Laws by Uxin Limited in connection with the Company's June 27, 2018, initial public offering ("IPO").
Investors who purchased shares of Uxin Limited (NASDAQ: UXIN) have certain options and for certain investors are short and you should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
China based Uxin Limited, through its subsidiaries, operates an used car e-commerce platform in China. On November 19, 2018, Uxin Limited reported that transaction volume for one of its business segments had declined 8.5% year-over-year and gross merchandise value had declined 14.8% due to its "recent change of approach in serving customers with car-selling needs."
According to the complaint the plaintiff alleges that the Registration Statement was materially false and misleading and omitted to state that the company was likely to stop providing complementary services such as inspections to its customers, that instead, the company would connect consumers to dealers who would provide such complementary services, that as a result, the company's 2B business would be materially impacted, and that as a result of the foregoing, defendants' statements in the Registration Statement regarding Uxin's business, operations, and prospects, were materially false and/or misleading.
Those who purchased shares of Uxin Limited (NASDAQ: UXIN) have certain options and should contact the Shareholders Foundation.
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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