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NEW YORK, NY / ACCESSWIRE / September 23, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
PROG Shareholders Click Here: https://www.zlk.com/pslra-1/progenity-inc-information-request-form?prid=9555&wire=1
LX Shareholders Click Here: https://www.zlk.com/pslra-1/lexinfintech-holdings-ltd-information-request-form?prid=9555&wire=1
CLNC Shareholders Click Here: https://www.zlk.com/pslra-1/colony-credit-real-estate-inc-information-request-form?prid=9555&wire=1
* ADDITIONAL INFORMATION BELOW *
Progenity, Inc. (NASDAQ:PROG)
This lawsuit is on behalf of all purchasers of Progenity common stock pursuant and/or traceable to the registration statement, as amended, issued in connection with Progenity's June 2020 initial public offering.
Lead Plaintiff Deadline : October 27, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/progenity-inc-information-request-form?prid=9555&wire=1
According to the filed complaint, (i) that Progenity had overbilled government payors by $10.3 million in 2019 and early 2020 and, thus, had materially overstated its revenues, earnings and cash flows from operations for the historical financial periods provided in the registration statement; (ii) that Progenity would need to refund this overpayment in the second quarter of 2020 (the same quarter in which the initial public offering was conducted), adversely impacting its quarterly results; and (iii) that Progenity was suffering from accelerating negative trends in the second quarter of 2020 with respect to the Company's testing volumes, revenues and product pricing.
Lexinfintech Holdings, Ltd. (NASDAQ:LX)
This lawsuit is on behalf of shareholders who purchased or otherwise acquired: (a) Lexin American depositary shares pursuant and/or traceable to the Company's initial public offering conducted on or about December 21, 2017; or (b) Lexin securities between December 21, 2017 and August 24, 2020.
Lead Plaintiff Deadline : November 9, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/lexinfintech-holdings-ltd-information-request-form?prid=9555&wire=1
According to the filed complaint, (1) LexinFintech reported artificially low delinquency rates by giving borrowers in default new funds to make payments; (2) the Company's business model exposes shareholders to enormous losses by prioritizing Chinese lenders for off-balance sheet loans; (3) the Company exaggerated its user base; (4) the Company was facilitating direct peer to peer lending contrary to Chinese law; (5) the Company engaged in undisclosed related party transactions; (6) the Company lacked adequate internal controls; and (7) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.