Qudian Inc. (NYSE: QD)

A class action has been filed commenced in the Southern District of New York on behalf of purchasers of Qudian Inc. (“Qudian”) (NYSE:QD) American Depositary Shares (“ADSs”) in or traceable to the Company’s October 18, 2017 initial public offering (“IPO”).

The complaint charges Qudian, certain of its officers and/or directors and the underwriters of its IPO with violations of the Securities Act of 1933. Qudian is a financial lending company focused on providing small cash credit products to underserved borrowers, such as those with less credit history, lower monthly incomes or limited access to traditional financial institutions.

On September 18, 2017, the Company filed with the SEC a registration statement on Form F-1 for the IPO, which, after several amendments, was declared effective on October 17, 2017 (the “Registration Statement”). The Registration Statement was used to sell to the investing public approximately 37.5 million Qudian ADSs, representing 37.5 million Qudian Class A ordinary shares, at $24 per share.

The complaint alleges that the Registration Statement for the IPO was negligently prepared and, as a result, contained untrue statements of material fact and/or omitted material facts necessary to make the statements contained therein not misleading. Specifically, the complaint alleges that the Registration Statement contained inaccurate statements of material fact because it failed to disclose, among other things, that the Company was engaged in improper lending and collection practices; that the Company had various undisclosed risks in its loan portfolio; that because of the Company’s improper lending, underwriting and collection practices it was subject to a heightened risk of adverse actions by Chinese regulators and its most important strategic partner, Ant Financial; and that the Company had failed to implement necessary safeguards to protect customer data.

On December 12, 2017, Qudian ADSs closed at $13.19 per ADS, a 45% decline from the price at which Qudian ADSs had been sold to the investing public less than two months earlier in the IPO.

If you are a current shareholder and purchased stock in or traceable to the Company’s October 18, 2017 initial public offering, and would like to discuss your options of exercising your rights as a shareholder, please contact us.

Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.

Personal Information
Phone #:
E-mail Address:
Stock Information
Do you currently own the stock? Yes   No
Purchase Date:
Quantity Purchased:
Purchase Price Per Share:

Please Note: Neither the submission to nor the receipt of information by The Law Offices of Marc S. Henzel or one of its attorneys through this website constitutes an agreement by the firm to represent the individual and does not create an attorney-client relationship.