RADNOR, Pa., Sept. 07, 2018 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that an investor class action lawsuit has been filed against Fanhua, Inc. (NASDAQ: FANH) (“Fanhua” or the “Company”) on behalf of purchasers of the Company’s securities between April 20, 2018 through August 27, 2018, inclusive (the “Class Period”).
IMPORTANT DEADLINE: Investors who purchased Fanhua’s securities during the Class Period may, no later than November 6, 2018, seek to be appointed as a lead plaintiff representative of the class.
Fanhua investors who have suffered investment losses in excess of $100,000 and seek to take an active role in this litigation are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740 or skaskela@kaskelalaw.com for additional information about their legal rights. Investors may also submit their information to the firm online at http://kaskelalaw.com/case/fanhua/.
On August 27, 2018, stock analyst Seligman Investments published an article that described Fanhua as a “questionable company” and detailed a history of alleged fraud within the Company, including accounting irregularities in the Company’s second quarter 2018 financial results. On this news, Fanhua’s share price fell $2.75 per share, or 10.52%, to close at $23.40 on August 27, 2018.
The class action complaint alleges that defendants made a series of false and misleading statements during the Class Period and failed to disclose to investors that: (i) Fanhua was engaged in improper business practices, including irregular accounting; and (ii) the foregoing practices were intended to benefit Company insiders and overstated Fanhua’s financial assets and performance metrics. The complaint further alleges that, as a result of the foregoing, investors purchased Fanhua’s securities at artificially inflated prices during the Class Period, and have suffered financial damages as a result of defendants’ conduct.
Fanhua investors who have suffered investment losses in excess of $100,000 and seek to take an active role in this litigation are encouraged to contact Kaskela Law LLC. Kaskela Law LLC exclusively represents investors in state and federal courts throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(484) 258 – 1585
(888) 715 – 1740
skaskela@kaskelalaw.com
www.kaskelalaw.com