BENSALEM, Pa.–(BUSINESS WIRE)–$WBAI–Law Offices of Howard G. Smith announces an investigation on behalf of 500.com Limited (“500.com” or the “Company”) (NYSE: WBAI) investors concerning the Company and its officers’ possible violations of federal securities laws.
On December 31, 2019, the Company disclosed an internal investigation regarding alleged illegal money transfers after one of its former directors was arrested. 500.com also announced that its Chairman of the Board of Directors resigned and that its Chief Executive Officer would “step aside” from his position until the investigation concluded.
On this news, the Company’s share price fell as much as $0.94 per share, nearly 11%, during intraday trading on January 2, 2020, thereby injuring investors.
If you purchased 500.com securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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Law Offices of Howard G. Smith
Howard G. Smith, Esquire