BENSALEM, Pa.–(BUSINESS WIRE)–$WBAI–Law Offices of Howard G. Smith continues its investigation on behalf of 500.com Limited (“500.com” or the “Company”) (NYSE: WBAI) investors concerning the Company and its officers’ possible violations of federal securities laws.
On December 31, 2019, the Company disclosed an internal investigation regarding alleged illegal money transfers after one of its former directors was arrested. 500.com also announced that its Chairman of the Board of Directors resigned and that its Chief Executive Officer would “step aside” from his position until the investigation concluded.
On this news, the Company’s share price fell $1.07, or over 12%, to close at $7.52 per share on January 2, 2020, thereby injuring investors.
If you purchased 500.com securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
