A lawsuit was filed on behalf of investors in Xunlei Ltd (NASDAQ:XNET) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 02/01/2018 -- An investor, who purchased shares of Xunlei Ltd (NASDAQ:XNET), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Xunlei Ltd in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Xunlei Ltd (NASDAQ:XNET) have certain options and for certain investors are short and strict deadlines running. Deadline: March 20, 2018. NASDAQ:XNET investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On October 12, 2017, Xunlei Limited introduced its blockchain-based product "OneCoin" to the market. The Company's customers could then receive OneCoin for contributing their bandwidth and purchase Xunlei's products, goods and services using OneCoin.
The plaintiff claims that between October 10, 2017 and January 11, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Xunlei had engaged in unlawful financial activity, that OneCoin was a form of disguised Initial Coin Offering, that Xunlei was engaged in the promotion of an Initial Miner Offering, and that as a result of the foregoing, Defendants' statements about Xunlei's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Shares of Xunlei Ltd (NASDAQ:XNET) closed on January 19, 2018 at $16.39 per share.
Those who purchased shares of Xunlei Ltd (NASDAQ:XNET) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego