NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Longfin Corp. (NASDAQ: LFIN) between December 13, 2017 and April 2, 2018, both dates inclusive (“Class Period”). The lawsuit seeks to recover damages for Longfin investors under the federal securities laws.
To join the Longfin class action, go to http://www.rosenlegal.com/cases-1314.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or zhalper@rosenlegal.com for information on the class action.
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 throughout the Class Period made 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 true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 4, 2018. 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 http://www.rosenlegal.com/cases-1314.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or zhalper@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm is ranked #1 in the nation by Institutional Shareholder Services for the number of securities class action settlements in 2017.
