NEW YORK–(BUSINESS WIRE)–Faruqi & Faruqi, LLP, a leading national securities law firm, reminds
investors in Fanhua, Inc.(“Fanhua or the “Company”) (NASDAQ:FANH) of the
November 6, 2018 deadline to seek the role of lead plaintiff in a
federal securities class action that has been filed against the Company.
If you invested in Fanhua stock or options between April 20, 2018 and
August 27, 2018 and would like to discuss your legal rights, click
There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at
877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
The lawsuit has been filed in the U.S. District Court for the Southern
District of New York on behalf of all those who purchased Fanhua
securities between April 20, 2018 and August 27, 2018 (the “Class
Period”). The case, Long v. Fanhua, Inc., No. 18-cv-08183 was
filed on September 7, 2018, and has been assigned to Judge Paul Adam
The lawsuit focuses on whether the Company made false and/or misleading
statements and/or failed to disclose that: (1) Fanhua engaged in
improper business practices, including irregular accounting; (2) the
foregoing practices were intended to benefit Company insiders and
overstated Fanhua’s financial assets and performance metrics; and (3) as
a result, Fanhua’s public statements were materially false and
misleading at all relevant times.
Specifically, on August 27, 2018, stock analyst Seligman Investments
published an article that described Fanhua as a “questionable company”
and detailed a history of alleged fraud within the Company, including
accounting irregularities in the Company’s second quarter 2018 financial
After the announcement, Fanhua’s share price fell from $26.15 per share
on August 24, 2018 to a closing price of $23.40 on August 27, 2018—a
$2.75 or a 10.52% drop.
The court-appointed lead plaintiff is the investor with the largest
financial interest in the relief sought by the class who is adequate and
typical of class members who directs and oversees the litigation on
behalf of the putative class. Any member of the putative class may move
the Court to serve as lead plaintiff through counsel of their choice, or
may choose to do nothing and remain an absent class member. Your ability
to share in any recovery is not affected by the decision to serve as a
lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding
Fanhua’s conduct to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with respect
to any future matter. We welcome the opportunity to discuss your
particular case. All communications will be treated in a confidential
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
York, NY 10017
Attn: Richard Gonnello, Esq.
(877) 247-4292 or (212) 983-9330