Kaplan Fox Files Class Action to Recover Losses for Investors Who Purchased Qudian, Inc. American Depository Shares

December 14, 2017

 

New York, New York – December 14, 2017 – Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) has filed a class action suit in the United States District Court for the Southern District of New York against Qudian Inc. (“Qudian” or the “Company”) (NYSE: QD), certain of its senior officers, directors, and underwriters.  

The complaint alleges that Defendants violated Sections 11 and 15 of the Securities Act of 1933.  The complaint is brought on behalf of all persons who purchased Qudian American Depository Shares (“ADS”) in the Company’s October 17, 2017 initial public offering (“Offering”) under or traceable to an Amended Registration Statement filed with the SEC on Form F-1/A on October 13, 2017 and a Prospectus filed with the SEC on October 17, 2017 (collectively the “Registration Statement”) (the “Class”).  In the Offering, 37.5 million Qudian ADSs were sold at $24.00 per share for gross proceeds of $900 million.  

The complaint further alleges that the Registration Statement made representations “concerning the Company’s risks concerning security breaches and unauthorized access to its customers confidential information” and that these representations “were untrue statements of material facts and omitted material facts necessary to make the statements contained therein not misleading, because the Registration Statement did not disclose that, at the time of the Offering, the Company’s security measures for protecting its customers’ confidential information had been breached or the Company had experienced unauthorized access to its customers confidential information, exposing the Company to liability related to the loss of the information, litigation and negative publicity.”

On December 13, 2017, Qudian ADSs closed at $13.98 per share, or more than 41% below the IPO price of $24 per share.

If you are a member of the proposed Class, you may move the court no later than February 12, 2018 to serve as a lead plaintiff for the proposed Class.  You need not seek to become a lead plaintiff in order to share in any possible recovery. 

Plaintiff seeks to recover damages on behalf of the proposed Class and is represented by Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com).  Our firm, with offices in New York, San Francisco, Los Angeles, Chicago, and New Jersey, has decades of experience in prosecuting investor class actions and actions involving violations of the Federal securities laws. 

If you have any questions about this Notice, the action, your rights, or your interests, please e-mail attorneys Jeff Campisi ( This e-mail address is being protected from spambots. You need JavaScript enabled to view it ), or Larry King ( This e-mail address is being protected from spambots. You need JavaScript enabled to view it ), or contact them by phone, regular mail, or fax:

Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, NY 10022
Toll-Free Telephone: (800) 290-1952
Telephone: (212) 687-1980
Fax: (212) 687-7714
E-mail address: This e-mail address is being protected from spambots. You need JavaScript enabled to view it  

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, CA 94104
Telephone: (415) 772-4700
Fax: (415) 772-4707
E-mail address: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

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