NEW YORK, April 15, 2015 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired American Depositary Shares of 500.com Limited (NYSE: WBAI) pursuant or traceable to the November 22, 2013 Initial Public Offering or between November 22, 2013 and February 25, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Central District of California. If you purchased or otherwise acquired 500.com Limited ("500.com") ADSs pursuant or traceable to the November 22, 2013 Initial Public Offering or between November 22, 2013 and February 25, 2015, your rights may be affected by this action. To get more information at no cost or obligation to you, go to:
The complaint alleges, among other allegations, that the Company's Registration Statement misrepresented and/or failed to disclose that the Company did not have the necessary approvals to conduct online operations.
On February 25, 2015, 500.com announced that, in response to a notice issued by governmental authorities, certain provincial sports lottery administration centers to which the Company provides sport lottery sales services plan to temporarily suspend acceptance of online purchase orders for lottery products.
If you suffered a loss in 500.com you have until April 28, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/500com-wbai.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
SOURCE Levi & Korsinsky, LLP