9F Inc. (JFU)
Class Action & Lead Plaintiff Deadline: March 22, 2021
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against 9F Inc. ("9F" or "the Company") (NASDAQ: JFU) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired 9F securities (i) pursuant and/or traceable to the registration statement and related prospectus issued in connection with 9F’s August 14, 2019 initial public offering (the "IPO" or "Offering"); and/or (ii) between August 14, 2019 and September 29, 2020, both dates inclusive (the "Class Period").
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933 and the Securities Exchange Act of 1934.
The complaint alleges that the materials supporting the Offering, and defendants throughout the Class Period, made false and/or misleading statements and/or failed to disclose that: (1) the purported value and benefits of the Company’s financial institution partners and its tri-party cooperation business model did not in fact exist and/or were materially overstated, given that 9F and Property and Casualty Company Limited ("PICC") had been engaged in an ongoing contractual dispute regarding payment of service fees under the Cooperation Agreement; (2) the collectability of service fees owed to 9F by PICC under the Cooperation Agreement was in doubt and at serious risk of non-payment; (3) there was a significant risk that PICC would no longer provide credit insurance and guarantee protection to investors and institutional funding partners; (4) as a result of the foregoing, the Company’s platform, business model, reputation and financial results had been materially impaired; and (5) as a result, defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in 9F you have until March 22, 2021 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.