- Do you, or did you, own shares of Longfin Corp. (NASDAQ CM: LFIN )?
- Did you purchase your shares between December 13, 2017 and April 2, 2018, inclusive?
- Did you lose money in your investment?
According to the Complaint, on March 26, 2018, Citron Research, a noted short seller, sent a tweet alerting investors that Longfin "is a pure stock scheme" and that an SEC enforcement action should not be far behind as "[f]ilings and press releases are riddled with inaccuracies and fraud." CNBC wrote also the article "Shares of cryptocurrency play Longfin drop after short seller Citron calls it a 'pure stock scheme.'"Then, on April 2, 2018, Longfin filed its annual report on Form 10-K for the year ended December 31, 2017 with the SEC disclosing an SEC probe into the documents related to the IPO and acquisition of Ziddu.com. Further, on the same day, The Wall Street Journal published the article, "Up-and-Down IPO Longfin Is Facing an SEC Probe," which discussed the SEC's investigation into Longfin. On this news, shares of Longfin declined over 30%, closing at $9.89 per share on April 3, 2018, on heavy trading volume. If you wish to serve as lead plaintiff, you must move the Court no later than June 2, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed 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. Attorney advertising. Prior results do not guarantee a similar outcome.