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NEW YORK, April 07, 2017 -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Wins Finance Holdings, Inc. (NASDAQ:WINS) securities between October 29, 2015 and March 29, 2017 (the “Class Period”), inclusive.
Investors who have incurred losses in Wins Finance Holdings, Inc. shares are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have purchased Wins Finance Holdings, Inc. shares and would like to assist with the litigation process, you may, no later than June 2, 2017, request that the Court appoint you lead plaintiff of the proposed class.
The filed Complaint alleges that throughout the Class Period, Wins made materially false and/or misleading statements regarding its projected earnings, valuation, and future business operations in order to artificially inflate the price of Wins securities.
On March 30, 2017, Seeking Alpha reported that Wins is under investigation by the Securities and Exchange Commission for “market manipulation.” Additionally, the Company misled investors about business operations and the existence of its headquarters locations in New York and Hong Kong in order to gain inclusion on the Russell indexes, further inflating the price of Wins securities.
Following this news, Wins shares fell $79.42 per share, or over 35.3%, to close at $144.99 on March 31, 2017. Wins has continued to plummet subsequent to this news, and on April 7, 2017 is trading near $105.00 per share, as compared to the high reached on February 2, 2017 of $465.00 per share.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq. Gregory Stone, Director of Case and Financial Analysis Email: [email protected], [email protected] or [email protected] Tel: (800) 575-0735 or (212) 545-4774 Attorney Advertising. Prior results do not guarantee or predict a similar outcome.
