We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Chinese Lender Says It Didn't Gloss Over Regulation Risks

Law360, New York (March 29, 2017, 2:15 PM EDT) -- Peer-to-peer lender Yirendai Ltd. urged a California federal court on Tuesday to toss a shareholder suit alleging it glossed over risks from the Chinese government’s crackdown on online lending fraud, saying investors’ “dire predictions” of revenue loss from the new regulations were never actualized.

The China Banking Regulatory Commission’s new peer-to-peer lending regulations have not caused revenue losses by limiting offline customer sourcing, Yirendai said, arguing the stock-drop suit fails because securities fraud claims cannot rely on false premises.

“Contrary to plaintiffs' dire predictions of threats...
To view the full article, register now.




Case Information

Case Title

Alexandru Lefter v. Yirendai Ltd. et al

Case Number



California Central

Nature of Suit



Michael W. Fitzgerald

Date Filed

August 26, 2016

Law Firms

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.