LOS ANGELES, CA / ACCESSWIRE / April 14, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Longfin Corp. ("Longfin" or "the Company") (NASDAQ: LFIN) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between December 13, 2017 and April 2, 2018, inclusive (the "Class Period") are encouraged to contact the firm before June 4, 2018.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company issued false and/or misleading statements and/or failed to disclose that: (1) Longfin included several false statements in its SEC filings in connection with its IPO which prompted an SEC investigation, including wrongly representing Defendant Meenavalli's age, location of Longfin's principal offices, and listing Sarah Altahawi as an officer when she did not have that position; (2) Longfin acquired Ziddu.com shortly after the IPO to capitalize on the popularly of blockchain companies in order to manipulate the Company's stock price; (3) Longfin's acquisition of Ziddu.com prompted an SEC investigation; (4) Longfin knew that it was ineligible to be listed on the Russell 2000 and 3000 indices; and (5) as a result of the foregoing, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the truth was revealed to the investing public, shares dropped, causing shareholders harm.
The Schall Law Firm represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
Schallfirm.com
SOURCE: The Schall Law Firm