Shareholders Foundation, Inc.

Deadline Upcoming in $2.5 Million Settlement in the 500.com Ltd (NYSE:WBAI) Investor Lawsuit

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of 500.com Ltd (NYSE:WBAI) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on January 14, 2017 and NYSE:WBAI investors should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 01/09/2017 -- The Shareholders Foundation announced that a deadline is coming up on January 14, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of 500.com Ltd (NYSE:WBAI) between November 22, 2013 and March 2, 2015.

Investors who purchased a significant amount of shares of 500.com Ltd (NYSE:WBAI) between November 22, 2013 and March 2, 2015, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the 500.com Ltd (NYSE:WBAI) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/500com-ltd-nyse-wbai-investor-securities-class-action-lawsuit-02272015

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is January 14, 2017. The class action administrator for this case is RG/2 Claims Administration LLC.

The lawsuit was originally filed in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by 500.com Ltd in connection with certain allegedly false and misleading statements made in connection with 500.com Ltd's initial public offering ("IPO") on or about November 22, 2013 and between November 22, 2013 through February 25, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of 500.com Ltd (NYSE:WBAI) American Depository Shares pursuant and/or traceable to the Company's IPO on or about November 22, 2013 and between November 22, 2013 through February 25, 2015, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that 500.com issued materially false and misleading statements to investors by failing to disclose the risk of provincial sports lottery administration centers voluntarily suspending the acceptance of online purchase orders for lottery products.

Those who purchased shares of 500.com Ltd (NYSE:WBAI) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com