Philadelphia, Pennsylvania--(Newsfile Corp. - July 29, 2021) - Berger Montague is investigating securities fraud allegations against 360 DigiTech, Inc. ("360 DigiTech" or the "Company"). The Firm is investigating these claims on behalf of investors who purchased 360 DigiTech securities (NASDAQ: QFIN) between April 30, 2020 and July 7, 2021 (the "Class Period").
If you purchased 360 DigiTech securities during the Class Period, would like to discuss Berger Montague's investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at firstname.lastname@example.org or (215) 875-3015, or Donnell Much at email@example.com or (215) 875-4667, or fill out the form on www.bergermontague.com/360-digitech.
Whistleblowers: Anyone with non-public information regarding 360 DigiTech is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
360 DigiTech is an operator of a digital consumer finance platform in the People's Republic of China. According to a recently filed lawsuit, the Company and its senior executives misled investors and/or failed to disclose that 360 DigiTech had been collecting personal information in violation of relevant PRC laws, thus exposing the Company to increased regulatory scrutiny.
On July 8, 2021, reports circulated on social media that 360 DigiTech's core product, the 360 IOU app, had been removed from major app stores. On this news, the Company's share price fell $7.12 per share, more than 21%, to close at $26.02 on July 8, 2021.
Then, on July 9, 2021, Seeking Alpha reported that 360 DigiTech confirmed the removal of its 360 IOU app from the Android app store and quoted a 360 DigiTech spokesperson as stating that the Company had "submitted a new rectification plan and stepped up the whole process."
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Andrew Abramowitz, Senior Counsel
Donnell Much, Associate
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