XNET-Nationally Ranked Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Xunlei Limited - XNET

NEW YORK, Feb. 23, 2018 -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Xunlei Limited (NASDAQ:XNET) from October 10, 2017 through January 11, 2018, both dates inclusive (“Class Period”). The lawsuit seeks to recover damages for Xunlei investors under the federal securities laws.

To join the Xunlei class action, go to http://www.rosenlegal.com/cases-1276.html or call Phillip Kim, Esq. or Daniel Sadeh, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] 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 during the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Xunlei had engaged in unlawful financial activity; (2) OneCoin, Xunlei’s blockchain-based product, was a form of disguised Initial Coin Offering; (3) Xunlei was engaged in the promotion of an Initial Miner Offering; and (4) as a result, defendants’ statements about Xunlei’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis. 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 March 20, 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-1276.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Daniel Sadeh of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].

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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors. Attorney Advertising.  Prior results do not guarantee a similar outcome.