Investigation Overview
An investigation on behalf of investors of JD.com, Inc. (NASDAQ: JD) shares over potential securities laws violations by JD.com, Inc. and certain of its directors and officers in connection with certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of JD.com, Inc. (NASDAQ: JD) concerning whether a series of statements by JD.com, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based JD.com, Inc., through its subsidiaries, operates as an e-commerce company and retail infrastructure service provider in the People's Republic of China. JD.com, Inc. reported that its annual Total Revenue rose from over 181.04 billion CNY in 2015 to over 258.28 billion CNY in 2016 and that its Net Loss declined from over 9.1 billion CNY in 2015 to 3.8 billion CNY in 2016.
Shares of JD.com, Inc. (NASDAQ: JD) reached as high as $50.55 per share in early 2018.
On August 31, 2018, JD's Chairman and Chief Executive Officer Qiangdong Liu was arrested in Minnesota for alleged sexual misconduct.
Shares of JD.com, Inc. (NASDAQ: JD) declined to as low as $26.00 per share on September 5, 2018.
On September 7, 2018, NASDAQ: JD shares closed at $26.95 per share.