Lawsuit filed for Investors in shares of 9F Inc. (NASDAQ: JFU)

An investor, who purchased shares of 9F Inc. (NASDAQ: JFU), filed a lawsuit over alleged violations of Federal Securities Laws by 9F Inc.

Investors who purchased shares of 9F Inc. (NASDAQ: JFU) have certain options and for certain investors are short and strict deadlines running. Deadline: March 22, 2021. NASDAQ: JFU investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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

The plaintiff claims that the materials supporting the IPO, and defendants throughout between August 14, 2019 and September 29, 2020, made false and/or misleading statements and/or failed to disclose that 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, that the collectability of service fees owed to 9F by PICC under the Cooperation Agreement was in doubt and at serious risk of non-payment, that there was a significant risk that PICC would no longer provide credit insurance and guarantee protection to investors and institutional funding partners, that as a result of the foregoing, the Company’s platform, business model, reputation and financial results had been materially impaired, and that 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.

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.