NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, P.A., a global investor rights firm, announces it is investigating potential civil securities claims against 500.com Limited (NYSE:WBAI) resulting from allegations that the Company may have issued materially inaccurate statements about the Company’s true financial condition and prospects.
500.com is the leading online sports lottery service provider in China. On February 25, 2015, the Company announced that it learned that certain provincial sports lottery administration centers to which the Company provides sport lottery sales services plan to temporarily suspend accepting online purchase orders for lottery products, in response to a Notice on Issues Related to Self-Inspection and Self-Remedy of Unauthorized Online Lottery Sales issued by governmental authorities. These adverse disclosures caused the price of the Company’s stock to fall during intraday trading on February 25, 2015.
The Rosen Law Firm is preparing a securities class action lawsuit on behalf of 500.com investors. If you purchased 500.com stock prior to February 25, 2015 please visit the website at http://www.rosenlegal.com/cases-275.html to join the class action. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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