NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, a global investor rights law firm, reminds purchasers of Xunlei Limited (NASDAQ: XNET) American Depository Shares: (1) pursuant and/or traceable to the Company’s initial public offering on or about June 24, 2014; and/or (2) on the open market from June 24, 2014 through May 20, 2015, inclusive (the “Class Period”) of the important August 7, 2015 lead plaintiff deadline in the class action lawsuit filed by the firm. The lawsuit seeks to recover damages for Xunlei investors under the federal securities laws.
To join the Xunlei class action, go to the firm’s website at http://www.rosenlegal.com/cases-624.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action. The lawsuit is pending in U.S. District Court for the Central District of California.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Defendants made false and/or misleading statements and failed to disclose the material risk that Xunlei’s strategic focus on Project Crystal and its mobility initiative would have a detrimental impact on the Company’s financial condition. When the true details entered the market, the Company’s stock fell $1.69 per share or almost 15% to close at $9.71 per share on May 21, 2015, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 7, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm’s website at http://www.rosenlegal.com/cases-624.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at firstname.lastname@example.org or email@example.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.