Xunlei Limited : American Depository Shares Securities Litigation
On or around 11/16/2015 (Court's order of dismissal)
Filing Date: June 08, 2015
According to the law firm press release, the lawsuit alleges Defendants made false and/or misleading statements and failed to disclose the material risk that Xunlei’s strategic focus on Project Crystal and its mobility initiative would have a detrimental impact on the Company’s financial condition. When the true details entered the market, the Company’s stock fell $1.69 per share or almost 15% to close at $9.71 per share on May 21, 2015, damaging investors.
This case was voluntarily dismissed on November 16, 2015.
Company & Securities Information
Defendant: Xunlei Limited
Industry: Software & Programming
Ticker Symbol: XNET
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Christopher Shreves, et al. v. Xunlei Limited, et al.