Investor Alert: Kaplan Fox Announces Investigation Of Uxin Limited
NEW YORK, Feb. 14, 2019 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Uxin Limited ("Uxin" or the "Company") (NASDAQ:UXIN), a Chinese company that operates an e-commerce platform for buying and selling cars. A complaint has been filed in the United States District Court for the Eastern District of New York against the Company, certain executives and the underwriters of Uxin'sJune 2018 initial public offering ("IPO") on behalf of investors who purchased or otherwise acquired Uxin's publicly traded securities pursuant to and/or traceable to the Company's IPO.
On or about June 27, 2018, Uxin completed its IPO of American Depositary Shares ("ADSs") by selling 25 million ADSs at $9 per share for gross proceeds of over $209 million, not including the underwriters' option to purchase additional shares.
On November 19, 2018 after the market closed, in a press release announcing unaudited third quarter 2018 financial results, Uxin reported that transaction volume for the 2B business had declined 8.5% year-over-year and that gross merchandise value had declined 14.8% year-over-year due to the Company's decision to stop providing certain services such as inspections for its customers.
Following this news, Uxin's ADS price fell $0.60 per share, or 11.76%, to close at $4.50 per share on November 20, 2018, representing a total decline of $4.50 per share, or 50%, compared to the IPO price of $9 per share.
If you are a member of the proposed Class, you may move the court no later than April 12, 2019 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing firstname.lastname@example.org or by calling 800-290-1952.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, the action, your rights, or your interests, please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
Fax: (212) 687-7714
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
Fax: (415) 772-4707
SOURCE Kaplan Fox & Kilsheimer LLP