Specifically, Defendants made false and / or misleading statements and / or failed to disclose that: (i) the Company was engaged in predatory lending practices that saddled subprime borrowers and / or those with poor or limited credit histories with high - interest rate debt that they could not repay; (ii) many
of the Company's customers were using Qudian - provided loans to repay their existing loans, thereby inflating the Company's revenues and
active borrower
numbers and increasing the likelihood
of defaults; (iii) the Company was providing online loans to college students despite a governmental ban on the practice; (iv) the Company was engaged overly aggressive and improper collection practices; (v) the Company had understated the
number of its non-performing loans in the Registration Statement and Prospectus; (vi) because
of the Company's improper lending, underwriting and collection practices it was subject to a heightened risk
of adverse actions by Chinese regulators; (vii) the Company's largest sales platform and strategic partner, Alipay, and Ant Financial, could unilaterally cap the APR for loans provided by Qudian; (viii) the Company had failed to implement necessary safeguards to protect customer data; (ix) data for nearly one million Company customers had been leaked for sale to the black market, including names, addresses, phone
numbers, loan information, accounts and, in some cases, passwords to CHIS, the state - backed higher - education qualification verification
institution in China, subjecting the Company to undisclosed risks
of penalties and financial and reputational harm; and (x) as a result
of the foregoing, Qudian's public statements were materially false and misleading at all relevant times.
He has had
active ongoing collaborations with a
number of TSRI investigators in our department (Marisa Roberto, Barbara Mason, and Michael Taffe), in other TSRI departments (Ben Cravatt, Kim Janda, and Steve Poceta), and at other
institutions.
In the United States, the last robust cataloguing
of the
number of active or recently
active ISBNs by agency, there's 65,000, just pre self - published authors, 65,000 so - called publishing
institutions.
Big
institutions bought about half as many single - family houses in the first quarter
of 2015 compared to the year before, according to the latest
numbers from data firm RealtyTrac Inc., even though the investors overall are more
active than ever...