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Investigation announced for Long-Term NYSE: WBAI investors over possible Wrongdoing at 500.com Ltd

04-09-2020 02:32 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in 500.com Ltd (NYSE: WBAI) shares.

An investigation on behalf of current long term investors in 500.com Ltd (NYSE: WBAI) shares.

Certain directors of 500.com Ltd. are under investigation concerning potential breaches of fiduciary duties.

Investors who are current long term investors in 500.com Ltd (NYSE: WBAI) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in 500.com Ltd (NYSE: WBAI stocks follows a lawsuit filed against 500.com Ltd (NYSE: WBAI over alleged securities laws violations. The investigation on behalf of current long term investors in 500.com Ltd (NYSE: WBAI stocks, concerns whether certain 500.com Ltd (NYSE: WBAI officers and directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the District of New Jersey the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that 500.com executives and consultants engaged in a bribery scheme with Japanese officials in an effort to gain favor in a bid to run an upcoming Japanese casino resort, that consequently, 500.com was in violation of Japanese anti-bribery laws and its Code of Ethics, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of 500.com Ltd (NYSE: WBAI) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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