NEW ORLEANS, April 27, 2018 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until June 4, 2018 to file lead plaintiff applications in a securities class action lawsuit against Longfin Corp. (NasdaqCM: LFIN), if they purchased the Company's shares between December 15, 2017 and April 2, 2018, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
Longfin investors should visit us at https://www.claimsfiler.com/cases/view-longfin-corp-securities-litigation or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Longfin and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 26, 2018, Citron Research reported that the Company was "a pure stock scheme" and "[f]ilings and press releases are riddled with inaccuracies and fraud." Soon thereafter, global index operator FTSE Russell announced that Longfin was being removed from its global indices, less than two weeks after joining. The next day, Longfin CEO Meenavalli stated that the company would file its 10-K within three days; however, no such filing was made by then or during trading on April 2, 2018.
On this event, the price of Longfin's shares plummeted.
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