IMPORTANT ANNOUNCEMENT: Wolf Haldenstein Adler Freeman & Herz LLP Announces That a Federal Securities Class Action Has Been Filed Against Xoom Corp. — XOOM
NEW YORK, Feb. 20, 2015 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of shareholders who have purchased shares of Xoom Corp (XOOM). Investors with significant losses on shares purchased since the initial public offering (“IPO”) on February 14, 2013 are encouraged to contact us immediately at (800) 575-0735 or email email@example.com.
According to the lawsuit, Xoom filed a Form 8-K with the Securities and Exchange Commission (“SEC”) on January 5, 2015 which stated that the Company had been the victim of a criminal fraud. Specifically, the Company determined that $ 30.8 million in cash had been improperly transferred to outside bank accounts. On the same day, the Company disclosed that its CFO, Matt Hibbard, had resigned. The Company also further disclosed it had contacted federal law enforcement authorities who are actively pursuing a multi-agency criminal investigation.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has over 70 attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at firstname.lastname@example.org, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “Xoom investigation.”
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