NEW YORK, Sept. 29, 2026 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”), a nationally recognized securities litigation law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased the American Depositary Receipts (“ADR’s)” of Qfin Holdings, Inc. ("Qfin" or the "Company") (NASDAQ:QFIN) between March 18, 2026 and August 25, 2026, inclusive (the "Class Period").
Investors who purchased Qfin ADR’s during the class period and suffered losses may be eligible to participate in the case, with the lead-plaintiff deadline set for November 30, 2026.
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The filed complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that:
- Defendants had overstated the resiliency and stability of Qfin's business and financial results despite regulatory changes;
- Defendants likewise downplayed the true scope and severity of the negative impact that regulatory headwinds were likely to have, and were already having, on the Company's business and financial results; and
- as a result, Defendants' public statements were materially false and misleading at all relevant times.
On August 25, 2026, after the market closed, Qfin released its second quarter of 2026 financial results. Among other items, the Company reported that total net revenue fell 31.6% year-over-year to Renminbi (“RMB”) 3.57 billion, significantly missing consensus estimates. Furthermore, net income plummeted 76.8% year-over-year, heavily impacted by an unexpected RMB 500 million tax expense. Management also issued disappointing forward guidance, projecting a 67% to 73% year-over-year drop in Q3 non-GAAP net income due to rising funding costs and systemic liquidity shocks in the Chinese consumer credit market.
On this news, Qfin's ADR’s fell $2.18 per ADR, or 18.91%, to close at $9.35 per ADR on August 26, 2026.
This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore over 125 years of legal expertise in securities litigation and has a proven record of protecting the rights of investors.
We encourage all investors who have been affected or have information that will assist in our investigation, to contact Wolf Haldenstein Adler Freeman & Herz LLP.
There is no cost or obligation to speak with an attorney.
Contact:
- Phone: (800) 575-0735 or (212) 545-4774
- Email: classmember@whafh.com
- Contact Person: Gregory Stone, Director of Case and Financial Analysis
Firm Website: Wolf Haldenstein Adler Freeman & Herz LLP
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