Investigation announced for Investors in NASDAQ: JFU shares over potential Securities Laws Violations by 9F Inc.

An investigation was announced over potential securities laws violations by 9F Inc. and certain of its directors and officers in connection with certain financial statements.

Investors who purchased shares of 9F Inc. (NASDAQ: JFU), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses whether a series of statements by 9F Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

China based 9F Inc., together with its subsidiaries, operates a digital financial account platform that integrates and personalizes financial services in the People's Republic of China.

On or about August 15, 2019, 9F Inc. sold about 8.9 million NASDAQ: JFU shares in its initial public stock offering (the "IPO"), at $9.50 a share raising nearly $85 million in new capital.
9F Inc. reported that its annual Total Revenue declined from over 5.55 billion CNY in 2018 to over 4.42 billion CNY in 2019, and that its Net Income of over 1.98 billion CNY in 2018 turned into a Net Loss of over 2.15 billion CNY in 2019.

Shares of 9F Inc. (NASDAQ: JFU) declined to as low as $1.76 per share on July 24, 2020.

The plaintiff alleges on behalf of purchasers of 9F Inc. (NASDAQ: JFU) common shares, that the defendants violated Securities Laws. More specifically, the plaintiff claims that the Registration Statement failed to disclose that 9F Inc. was in a dispute with its insurance partner, PICC, resulting in multiple legal actions in China. Further, the Registration Statement failed to disclose that PICC was challenging, delaying, and otherwise failing to pay service fees to 9F Inc. under the parties' agreement, rendering the collectability of services fees owed to 9F Inc. by PICC doubtful and as risk of non-payment.

Those who purchased shares of 9F Inc. (NASDAQ: JFU) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.

This release was published on openPR.