NEW YORK, April 05, 2017 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Wins Finance Holdings, Inc. (“Wins” or the “Company”) (NASDAQ: WINS ) of the June 5, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Wins securities between October 29, 2015 and March 29, 2017 (the “Class Period”). The case, Dutt v. Wins Finance Holdings, Inc. et al , No. 17-cv-02434 was filed on April 4, 2017.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by engaging in activities that might lead to charges of market manipulation.
Specifically, according to an article published by SeekingAlpha on March 30, 2017, the Company is under investigation by the Securities and Exchange Commission for “market manipulation.” Additionally, the Company misled investors about business operations and the existence of its headquarters locations in New York and Hong Kong in order to gain inclusion on the Russell indexes.
After this information became public, Wins’s share price fell from $280.60 per share on March 29, 2017 to a closing price of $144.99 on March 31, 2017—a $135.61 or a 48.33% drop.
Request more information now by clicking here: www.faruqilaw.com/WINS . There is no cost or obligation to you.
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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 Wins’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP 685 Third Avenue, 26th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. rgonnello@faruqilaw.com Telephone: (877) 247-4292 or (212) 983-9330
