855.846.6529 tmiles@timmileslaw.com

NEWS PROVIDED BYLaw Offices Of Timothy L. Miles October 07, 2020

Timothy L. Miles, a nationally recognized shareholder rights attorney

Investor Files Securities Class Action Lawsuit Against Pintec Technology Holdings Limited; Pintec Shareholders Urged to Contact the Firm

Pintec Technology Holdings Limited (NASDAQ:PT)

HENDERSONVILLE, TN, UNITED STATES, October 7, 2020 /EINPresswire.com/ — The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 19 years announces the filing of a class action lawsuit on behalf of purchasers of the securities of Pintec Technology Holdings Limited (NASDAQ: PT) pursuant and/or traceable to the registration statement issued in connection with Pintec’s October 2018 initial public offering (the “IPO”). The lawsuit seeks to recover damages for Pintec investors under the federal securities laws as is pending in the Southern District of New York, captioned Yaroni v. Pintec Technology Holdings Limited, No. 20-cv-08062.

Pintec Technology Holdings Limited (NASDAQ: PT) Accused of Misleading Shareholders

According to the lawsuit, the registration statement was false and misleading and omitted to state material facts. Specifically, defendants failed to disclose to investors that: (1) Pintec erroneously recorded revenue earned from certain technical service fees 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, Pintec’s financial results for fiscal 2017 and 2018 had been misstated; and (4) as a result of the foregoing, defendants’ positive statements about Pintec’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 30, 2020.

Pintec Shareholders Urged to Contact the Firm

If you purchased Pintec securities, have information, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely awarded the recognition of American’s Most Honored Lawyers 2020 – Top 1% by the American Registry. Mr. Miles was also recently selected by Martindale-Hubbell® and ALM as a 2020 Top Ranked Lawyer and a 2020 Top Rated Litigator. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019).

Awards: Top Rated Litigator by Martindale-Hubbell® and ALM (2019); 2019 Elite Lawyer of The South by Martindale-Hubbell® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV® Preeminent™ Rating by Martindale-Hubble® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2018-2020); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits To Investors (Timothy L. Miles, Dec. 3, 2019).

Contact:
Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
124 Shiloh Ridge
Hendersonville, TN 37075
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.timmileslaw.com
SOURCE: The Law Offices of Timothy L. Miles

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Nationally Recognized Shareholder Rights Attorney Timothy L. Miles Has Achieved the Recognition of American’s Most Honored Lawyers 2020 – Top 1%

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