LOS ANGELES, CA / ACCESSWIRE / March 14, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Xunlei Limited ("Xunlei" or the "Company") (NASDAQ: XNET) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between October 10, 2017 and January 11, 2018, inclusive (the "Class Period"), are encouraged to contact the firm by March 20, 2018, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, please click here to participate.
According to the lawsuit, the Company made materially false and/or misleading statements and/or failed to disclose that: (1) Xunlei had engaged in unlawful financial activity; (2) OneCoin, Xunlei's blockchain-based product, was a form of disguised Initial Coin Offering; (3) Xunlei was engaged in the promotion of an Initial Miner Offering; and (4) as a result, defendants' statements about Xunlei's business, operations, and prospects were false and misleading and/or lacked a reasonable basis. Following this news, Xunlei's stock price fell materially, which caused investors harm.
We also encourage you to contact Brian Schall or Sherin Mahdavian, of The Schall Law Firm, 1880 Century Park East Suite 404, Los Angeles, CA 90067, at (424) 303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at schallfirm.com or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq
SOURCE: The Schall Law Firm