Qudian Investors Fight Bid To Nix Securities Suit Over IPO
Law360 (September 25, 2020, 5:12 PM EDT) -- A proposed class of investors in online microlender Qudian Inc. urged a New York federal judge Thursday to reject bids to dismiss a securities suit alleging the Chinese company hid its unfair debt collection practices, business plan and data vulnerabilities, causing its stock to tank after its initial public offering.
In a 25-page opposition brief filed by Alan B. Hertz, the Alan Hertz Family 2012 Trust and Darwin Sutanto, the investors argue that Qudian director defendants either signed the company's registration statement or authorized it, and Qudian's senior management, including the company's board, solicited the sale of Qudian shares in the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!