$迅雷(XNET)$ The Rosen Law Firm Files Securities Class Action Against Xunlei Limited -- XNET Jun 08, 2015 16:39:00 (ET)
NEW YORK--(BUSINESS WIRE)--June 08, 2015-- The Rosen Law Firm, a global investor rights law firm, announces that it has filed a class action lawsuit on behalf of purchasers of Xunlei Limited (NASDAQ:XNET) American Depository Shares: (1) pursuant and/or traceable to the Company's initial public offering on or about June 24, 2014; and/or (2) on the open market between June 24, 2014 and May 20, 2015, inclusive (the "Class Period"). The lawsuit seeks to recover damages for Xunlei investors under the federal securities laws.
To join the Xunlei class action, go to the firm's website at 网页链接 or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action. The lawsuit is pending in U.S. District Court for the Central District of California.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Defendants made false and/or misleading statements and failed to disclose the material risk that Xunlei's strategic focus on Project Crystal and its mobility initiative would have a detrimental impact on the Company's financial condition. When the true details entered the market, the Company's stock fell $1.69 per share or almost 15% to close at $9.71 per share on May 21, 2015, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than August 7, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm's website at 网页链接 or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.