The investigation focuses on whether the LexinFinTech issued misleading and/or false statements and/or failed to disclose information pertinent to investors. LexinFintech is the subject of a report issued by Grizzly Research on August 25, 2020. According to the report, the LexinFinTech reported delinquency rates that were “unfathomably low” by engaging in a scheme in which it provided funds to borrowers that were in default in order to make their payments. It is also claimed in this report that the LexinFinTech’s web traffic is far too low to match its purported rate of growth. Shares of LexinFintech fell sharply on that same day in response to this news.
LexinFinTech Holdings Ltd.
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