Chinese P2P Lender Yirendai Beats Investor Suit, For Now

Law360, Los Angeles (June 19, 2017, 8:50 PM EDT) -- A California federal judge on Monday dismissed a securities fraud suit brought against Chinese peer-to-peer lending company Yirendai Ltd., giving leave to amend while warning the investors to tell him if “you’ve taken your best shot.”

At the onset of Monday’s hearing, U.S. District Judge Michael W. Fitzgerald issued a tentative ruling granting Yirendai’s motion to dismiss, but giving permission for a revised suit to be submitted to the court. Counsel for the investors submitted on the ruling, which the judge then made the final order...
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