NEW YORK, NY--(Marketwired - February 09, 2015) - Faruqi & Faruqi, LLP, a leading national securities law firm, notifies investors in Xoom Corporation ("XOOM" or the "Company") (NASDAQ: XOOM) of the April 8, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Xoom and certain executives.
A complaint has been filed in the Superior Court of California, San Francisco County on behalf of all persons who purchased Xoom common stock pursuant and/or traceable to the Company's Registration Statement and Prospectus, declared effective by the Securities and Exchange Commission on February 14, 2013, issued in connection with Xoom's initial public offering ("IPO") (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, the Company made false and misleading statements and failed to disclose that Xoom's internal controls were deficient.
On January 5, 2015, the Company disclosed that $30.8 million in corporate cash was illegally transferred and that its Chief Financial Officer had resigned.
Following this news, the price of the Company's stock declined.
Request more information now by clicking here: www.faruqilaw.com/XOOM. There is no cost or obligation to you.
Take Action
If you invested in Xoom stock or options pursuant and/or traceable to the Company's Registration Statement and Prospectus, declared effective by the Securities and Exchange Commission on February 14, 2013, issued in connection with Xoom's IPO, and would like to discuss your legal rights, visit www.faruqilaw.com/XOOM. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Xoom's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
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