LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of 500.com Limited (“500.com” or the “Company”) (NYSE: WBAI) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On December 31, 2019, the Company disclosed an internal investigation regarding alleged illegal money transfers after one of its former directors was arrested. 500.com also announced that its Chairman of the Board of Directors resigned and that its Chief Executive Officer would “step aside” from his position until the investigation concluded.
On this news, the Company’s share price fell as much as $0.94 per share, nearly 11%, during intraday trading on January 2, 2020, thereby injuring investors.
If you purchased 500.com securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles H. Linehan, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9224, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.
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