(WBAI) Alert: Johnson Fistel Launches Investigation into 500.com Limited; Investors Encouraged to Contact Firm

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Jan 03, 2020, 08:58 ET

SAN DIEGO, Jan. 3, 2020 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against 500.com Limited (NYSE: WBAI) ("500.com" or the "Company") for violations of federal securities laws.

On December 31, 2019, the Company announced it had formed a special committee to investigate alleged illegal money transfers and the role played by a former director of the Company's subsidiary in Japan and two former consultants by the Tokyo District Public Prosecutors Office. The Company also made known that Xudong Chen, Chairman of the Board, would give up his employment effective December 30, 2019, until the investigation concluded.

If you lost money, realized or unrealized on your 500.com investment, and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) by email or phone at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP