Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Eastern District of New York on behalf of shareholders of Uxin Limited who purchased American Depositary Shares pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with the June 27, 2018 initial public offering.
The filed complaint alleges that the Registration Statement made materially false and/or misleading statements and/or failed to disclose that: (1) Uxin was likely to stop providing complementary services such as inspections to its customers; (2) instead, Uxin would connect consumers to dealers who would provide such complementary services; (3) as a result, Uxin’s 2B business would be materially impacted; and (4) consequently, defendants’ statements in the Registration Statement concerning Uxin’s business, operations, and prospects, were materially false and/or misleading. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until April 12, 2019 to request that the court appoint them lead plaintiff.