According to the lawsuit, Pintec throughout the Class Period made misleading and/or false statements and/or failed to disclose that: (1) Pintec had erroneously recorded revenue it had earned from certain technical service fees on a net basis, instead of a gross basis; (2) there were material weaknesses in Pintec’s internal control regarding financial reporting that related to cash advances that were outside the normal course of business to Jimu Group, a related party, as well as to a non-routine loan financing transaction with a third-party entity, Plutux Labs; (3) Pintec’s financial results for fiscal 2017 and 2018 had been misstated,  as a result of the foregoing; and (4) Pintec’s positive statements about the their prospects, operations, and business were materially misleading and/or lacked a reasonable basis, as a result of the foregoing. The lawsuit claims that investors suffered damages, when the true details entered the market.

Pintec Technologies Holdings Limited

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There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.

We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.

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The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com