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Oct. 22, 2020, 9:06 a.m. EDT

The Gross Law Firm Announces Class Actions on Behalf of Shareholders of PT, CACC and TRQ

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    Pintec Technology Holdings Ltd. ADR (PT)
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    Credit Acceptance Corp. (CACC)
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    Turquoise Hill Resources Ltd. (TRQ)

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October 22, 2020 (ACCESSWIRE via COMTEX) -- NEW YORK, NY / ACCESSWIRE / October 22, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

Pintec Technology Holdings Limited /zigman2/quotes/200023963/composite PT -0.74%

This lawsuit is on behalf of shareholders who purchased PT securities pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's October 2018 initial public offering.

A class action has commenced on behalf of certain shareholders in Pintec Technology Holdings Limited. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company erroneously recorded revenue earned from certain technical service fee on a net basis, rather than a gross basis; (2) there were material weaknesses in Pintec's internal control over financial reporting related to cash advances outside the normal course of business to Jimu Group, a related party, and to a non-routine loan financing transaction with a third-party entity, Plutux Labs; (3) as a result of the foregoing, the Company's financial results for fiscal 2017 and 2018 had been misstated; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Shareholders may find more information at https://securitiesclasslaw.com/securities/pintec-technology-holdings-limited-loss-submission-form/?id=10377&from=1

Credit Acceptance Corporation /zigman2/quotes/200645359/composite CACC +0.23%

Investors Affected : November 1, 2019 - August 28, 2020

A class action has commenced on behalf of certain shareholders in Credit Acceptance Corporation. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Company was topping off the pools of loans that they packaged and securitized with higher-risk loans; (ii) Credit Acceptance was making high-interest subprime auto loans to borrowers that the Company knew borrowers would be unable to repay; (iii) the borrowers were subject to hidden finance charges, resulting in loans exceeding the usury rate ceiling mandated by state law; (iv) Credit Acceptance took excessive and illegal measures to collect debt from defaulted borrowers; (v) as a result, the Company was likely to face regulatory scrutiny and possible penalties from various regulators or lawsuits; and (vi) that, as a result of the foregoing, Defendants positive statements about the Company's business, operations, and adherence to appropriate laws and regulations were materially misleading and/or lacked a reasonable basis.

Shareholders may find more information at https://securitiesclasslaw.com/securities/credit-acceptance-corporation-loss-submission-form/?id=10377&from=1

Turquoise Hill Resources Ltd. /zigman2/quotes/208953645/composite TRQ +7.60%

Investors Affected : July 17, 2018 - July 31, 2019

A class action has commenced on behalf of certain shareholders in Turquoise Hill Resources Ltd. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the progress of underground development of Oyu Tolgoi was not proceeding as planned; (ii) there were significant undisclosed underground stability issues that called into question the design of the mine, the projected cost and timing of production; (iii) the company's publicly disclosed estimates of the cost, date of completion and dates for production from the underground mine were not achievable; (iv) the development capital required for the underground development of Oyu Tolgoi would cost substantially more than a billion dollars over what the company had represented; and (v) Turquoise Hill would require additional financing and/or equity to complete the project.

Shareholders may find more information at https://securitiesclasslaw.com/securities/turquoise-hill-resources-ltd-loss-submission-form/?id=10377&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

The Gross Law Firm15 West 38th Street, 12th floorNew York, NY, 10018Email: dg@securitiesclasslaw.com Phone: (212) 537-9430Fax: (833) 862-7770

SOURCE: The Gross Law Firm

View source version on accesswire.com: https://www.accesswire.com/611741/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-PT-CACC-and-TRQ

COMTEX_373231447/2457/2020-10-22T09:05:55

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Copyright 2020 ACCESSWIRE

/zigman2/quotes/200023963/composite
US : U.S.: Nasdaq
$ 0.97
-0.0072 -0.74%
Volume: 379,290
Dec. 4, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$41.84 million
Rev. per Employee
$726,564
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/zigman2/quotes/200645359/composite
US : U.S.: Nasdaq
$ 332.12
+0.75 +0.23%
Volume: 169,044
Dec. 4, 2020 4:00p
P/E Ratio
14.47
Dividend Yield
N/A
Market Cap
$5.86 billion
Rev. per Employee
$738,591
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/zigman2/quotes/208953645/composite
US : U.S.: NYSE
$ 11.47
+0.81 +7.60%
Volume: 956,791
Dec. 4, 2020 7:00p
P/E Ratio
6.04
Dividend Yield
N/A
Market Cap
$2.30 billion
Rev. per Employee
$408,554
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