Levi & Korsinsky, LLP announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of shareholders who purchased 500.com Limited American Depositary Shares pursuant or traceable to the November 22, 2013 Initial Public Offering or between November 22, 2013 and February 25, 2015.
The complaint alleges, among other allegations, that the Company’s Registration Statement misrepresented and/or failed to disclose that the Company did not have the necessary approvals to conduct online operations. On February 25, 2015, 500.com announced that, in response to a notice issued by governmental authorities, certain provincial sports lottery administration centers to which the Company provides sport lottery sales services plan to temporarily suspend acceptance of online purchase orders for lottery products. If you suffered a loss in 500.com you have until April 28, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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