Kaskela Law LLC announces that it is investigating Pintec Technology Holdings Limited (“Pintec” or the “Company”) (NASDAQ: PT) on behalf of investors. The investigation seeks to determine whether Pintec violated the federal securities laws in connection with and following its initial public offering (“IPO”) of securities.
In October 2018, Pintec completed its IPO, selling over 3.7 million American Depository Shares (“Shares”) to investors at $11.88 per share. Less than six months after the IPO, on April 30, 2019, Pintec announced that it was “unable to file its Annual Report on Form 20-F for the period ended December 31, 2018, on a timely basis because the Company was unable, without unreasonable effort or expense, to complete the Form 20-F within the prescribed period.” Following this news, the Company’s Shares significantly declined in value, and currently trade at less than $1.50 per share.
Investors who purchased Pintec’s shares prior to April 30, 2019, and suffered an investment loss are encouraged to contact Kaskela Law LLC at (484) 258 – 1585, or online at http://kaskelalaw.com/case/pintec-technology-holdings-limited/, to receive additional information about this investigation and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud and shareholder rights litigation.