The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Longfin Corp. (NASDAQ: LFIN) who purchased shares between December 13, 2017 and April 2, 2018. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the LFIN lawsuit alleges that (i) Longfin had material weaknesses in its operations and internal controls that hindered the Company's profitability; (ii) Longfin did not meet the requirements for inclusion in Russell indices; and (iii) as a result of the foregoing, the Defendants' public statements were materially false and misleading at all relevant times.
Shareholders have until June 4, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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