Xunlei Limited is a Chinese multinational technology company in the shared cloud computing and blockchain technology space.

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.

On September 15, 2015, the Court issued an Order appointing Lead Plaintiff and Counsel. This case was voluntarily dismissed on November 9.