An investigation on behalf of investors of Jiayin Group Inc. (NASDAQ: JFIN) shares over potential securities laws violations by Jiayin Group 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 Jiayin Group Inc. (NASDAQ: JFIN) concerning whether a series of statements by Jiayin Group Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

China based Jiayin Group Inc. operates as an online individual finance marketplace that connects individual investors and individual borrowers in China. Jiayin Group Inc. reported that its annual Total Revenue declined from over 2.88 billion CNY in 2018 to 2.23 billion CNY in 2019, and that its Net Income declined from 611.75 million CNY in 2018 to 527.74 million CNY in 2019.

On September 2, 2020, Jiayin Group Inc announced its unaudited financial and operating results for the second quarter of 2020. Among other results, Jiayin reported revenue for the quarter of $34.7 million, missing consensus estimates by approximately $9.08 million.

Shares of Jiayin Group Inc (NASDAQ: JFIN) declined from $4.26 per share on August 31, 2020, to $2.52 per share on September 8, 2020.