WILMINGTON, Del., Feb. 16, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a securities fraud class action lawsuit has been filed on behalf of investors of Xoom Corporation (Nasdaq:XOOM) ("Xoom" or the "Company") for possible corporate misconduct and violations of securities laws.
A copy of the complaint is available from the Court or from Andrews & Springer LLC. If you currently own shares of Xoom and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/XOOM or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Xoom made a Form 8-K filing with the Securities and Exchange Commission ("SEC") on January 5, 2015 which stated that the Company had been the victim of a criminal fraud. Specifically, the Company determined that $30.8 million in cash had been improperly transferred to outside bank accounts. On the same day, the Company disclosed that its CFO, Matt Hibbard had resigned. The Company also further disclosed it had contacted federal law enforcement authorities who are actively pursuing a multi-agency criminal investigation.
As a result of this news, Xoom shareholders have suffered losses.
On February 6, 2015, a Xoom shareholder represented by another law firm filed a class action complaint against Xoom for securities fraud. The complaint was filed in the Superior Court of California, San Francisco County, Case No. CGC-15-543531.
If you currently own shares of Xoom and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/XOOM or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.