PHILADELPHIA, Jan. 16, 2020 /PRNewswire/ -- Kehoe Law Firm,
P.C. is investigating claims on behalf of investors of 500.com
Limited ("500.com" or the "Company") (NYSE: WBAI) for potential
violations of the federal securities laws.
500.com investors who purchased, or otherwise acquired,
500.com securities between April 27,
2018 and December 31, 2019,
inclusive (the "Class Period") are encouraged to contact Kehoe Law
Firm, P.C. to discuss the investigation and potential
claims.
On January 15, 2020, a class
action lawsuit was filed on behalf of persons or entities who
purchased, or otherwise acquired, publicly-traded 500.com
securities between April 27, 2018 and
December 31, 2019, inclusive.
The class action lawsuit seeks to recover compensable damages for
violations of the federal securities laws under the Securities
Exchange Act of 1934.
According to the lawsuit, 500.com Defendants made false and/or
misleading statements and/or failed to disclose that: (1) 500.com
executives and consultants engaged in a bribery scheme with
Japanese officials in an effort to gain favor in a bid to run an
upcoming Japanese casino resort; (2) consequently, 500.com was in
violation of Japanese anti-bribery laws and its Code of Ethics; and
(3) as a result, Defendants' statements about its business,
operations, and prospects, were materially false and misleading
and/or lacked a reasonable basis at all relevant times.
If you wish to discuss the class action lawsuit, Kehoe Law
Firm's investigation or have questions about your potential legal
rights, please contact either John Kehoe,
Esq, (215) 792-6676, Ext. 801, jkehoe@kehoelawfirm.com, or
Michael Yarnoff, Esq., (215)
792-6676, Ext. 804, myarnoff@kehoelawfirm.com,
info@kehoelawfirm.com, to learn more about the investigation or
potential legal claims.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary,
plaintiff–side law firm dedicated to protecting investors from
securities fraud, breaches of fiduciary duties, and corporate
misconduct. Combined, the partners at Kehoe Law Firm have
served as Lead Counsel or Co-Lead Counsel in cases that have
recovered more than $10 billion
dollars on behalf of institutional and individual
investors.
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SOURCE Kehoe Law Firm, P.C.