NEW YORK, Jan. 8, 2015 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Xoom Corporation ("Xoom" or the "Company") (NASDAQ: XOOM), concerning whether the board has breached its fiduciary duties to shareholders.
On January 5, 2014, Xoom disclosed that it has been the victim of a criminal fraud involving employee impersonation resulting in a transfer of over $30 million in Company cash to overseas bank accounts. The Company expects a one-time $30.8 million charge to its fourth quarter 2014 results. On the same day, the Company announced that its CFO had resigned.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Xoom shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Email: [email protected]
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Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP