(Yicai Global) Nov. 21 -- Chinese fintech company Qudian Inc. [NYSE:QD] was the subject of an investigation initiated by Faruqi & Faruqi LLP, a leading US securities law firm, which suspected the company of lending at usurious rates and leaking users' information, Chinese media reported.

The law firm launched a new case on its website yesterday, encouraging investors who lost money investing in Qudian to provide tips to help it investigate potential claims against the company, but without elaborating.

Qudian listed on the New York Stock Exchange on Oct. 18 with an issue price of USD24 per share. The company has, however, sustained continuous losses recently as its third quarter report cited slowdowns in revenue.

The company's price dropped 6.69 percent, 9.05 percent and 5.28 percent, respectively, in the last three trading days to close at USD20.08 per share yesterday, well below its issue price. Faruqi & Faruqi specializes in uncovering instances of fraud or other corporate misfeasance and bringing class-action lawsuits against malefactors on behalf of bilked investors.