Investigation announced for Long-Term Investors in shares of Pintec Technology Holdings Limited (NASDAQ: PT)

Certain directors of Pintec Technology Holdings Limited are under investigation concerning potential breaches of fiduciary duties.

Investors who are current long term investors in Pintec Technology Holdings Limited (NASDAQ: PT) shares, 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 for current long term investors in NASDAQ: PT stocks follows a lawsuit filed against Pintec Technology Holdings Limited over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: PT stocks, concerns whether certain Pintec Technology Holdings Limited directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that the defendants failed to disclose to investors that the Company erroneously recorded revenue earned from certain technical service fee on a net basis, rather than a gross basis, that there were material weaknesses in Pintec’s internal control over financial reporting related to cash advances outside the normal course of business to Jimu Group, a related party, and to a non-routine loan financing transaction with a third-party entity, Plutux Labs, that, as a result of the foregoing, the Company’s financial results for fiscal 2017 and 2018 had been misstated, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Pintec Technology Holdings Limited (NASDAQ: PT) 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.