Faruqi and Faruqui, LLP Logo
Share this page

Xunlei Limited (XNET)

(NASDAQGS: MOBL)

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Xunlei Limited To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Xunlei Limited (“Xunlei” or the “Company”) (NasdaqGS: XNET) of the August 7, 2015, deadline to seek the role of lead plaintiff in a federal securities class action lawsuit against the Company and certain officers. A complaint has been filed against Xunlei in U.S. District Court for the Central District of California.

The complaint alleges that the Company and its executives violated federal securities laws by failing to disclose that Xunlei’s strategic focus on Project Crystal and its mobility initiative would have a detrimental impact on the Company’s financial condition. On May 20, 2015, eleven months after its IPO, Xunlei announced its unaudited financial results; total revenues were $30.2 million, an 8.4% decrease from the corresponding period of the prior year, and a 14.9% decrease from the previous quarter.

On this news, the Company’s stock fell $1.69 per share or almost 15% to close at $9.71 per share on May 21, 2015, damaging investors.

Take Action

If you invested in Xunlei stock or options between June 24, 2014 and May 20, 2015 and would like to discuss your legal rights, please fill out the form below. 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 Xunlei’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

 

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 06/09/2015

Class Period:

  • 06/24/2014 - 05/20/2015

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.