Pomerantz LLP is investigating claims on behalf of investors of Uxin Ltd. (“Uxin” or the “Company”).
Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Uxin and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around June 27, 2018, Uxin completed its initial public offering (“IPO”), issuing 25 million American depositary receipts (“ADRs”) priced at $9.00 per share. On November 20, 2018, Uxin reported that the transaction volume of its 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 services such as inspections for its customers.
Following this announcement, Uxin’s ADR 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%, from the IPO price of $9.00 per share.