Pawar Law Group Announces a Securities Class Action Lawsuit Against Fanhua Inc. - FANH16 Views
NEW YORK, NY / ACCESSWIRE / September 10, 2018 / Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Fanhua Inc. (NASDAQ: FANH) from April 20, 2018 through August 27, 2018, both dates inclusive (the "Class Period"). The lawsuit seeks to recover damages for Fanhua investors under the federal securities laws.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
According to the lawsuit, defendants during the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Fanhua engaged in improper business practices, including irregular accounting; (2) the foregoing practices were intended to benefit company insiders and overstated Fanhua's financial assets and performance metrics; and (3) as a result, Fanhua's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 6, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://pawarlawgroup.com/cases/fanhua-inc/ to join the class action. You may also contact Vik Pawar of Pawar Law Group toll free at 888-589-9804 or via email at [email protected].
Pawar Law Group represents investors from around the world.
SOURCE: Pawar Law Grouphttps://www.accesswire.com/511671/Pawar-Law-Group-Announces-a-Securities-Class-Action-Lawsuit-Against-Fanhua-Inc-FANH