WASHINGTON--(BUSINESS WIRE)--Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether Longfin Corp. (“Longfin” or the “Company”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Class action lawsuits were filed in the U.S. District Courts for the Southern and Eastern Districts of New York by other firms on behalf of purchasers of the common stock of Longfin Corp. (NASDAQ: LFIN) between December 13, 2017 and April 2, 2018, inclusive (the “Class Period”).
The complaints allege that Longfin and certain of its officers and directors (“Defendants”) misrepresented and/or failed to disclose that: (1) Longfin had material weaknesses in its operations and internal controls that hindered the Company’s profitability; (2) Longfin did not meet the requirements for inclusion in Russell indices; and (3) as a result of the foregoing, Defendants’ public statements were materially false and misleading.
After the market close on April 2, Longfin filed its 2017 Form 10-K in which it disclosed, among other things, that: (i) it had material weaknesses in its internal control over financial reporting; (ii) it was the subject of an SEC investigation concerning its initial public offering and the acquisition of Ziddu.com; and (iii) it may not be able to continue as a going concern. The price of Longfin shares fell from $14.31 to $9.89 on April 3.
Cohen Milstein encourages all investors who purchased Longfin common stock between December 13, 2017 and April 2, 2018, or former employees with information concerning this matter to contact the firm.
If you are a Longfin shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or email him at firstname.lastname@example.org. If you wish to serve as lead plaintiff, you must move the Court no later than June 4, 2018, to request appointment. Any member of the proposed class may retain Cohen Milstein or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.
Cohen Milstein has significant experience in prosecuting investor class actions and actions involving securities fraud, and is active in major litigation pending in federal and state courts throughout the nation. Cohen Milstein has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total billions of dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com.
If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:
J. Toll, Esq.
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: email@example.com; firstname.lastname@example.org