NEW ORLEANS, April 6, 2018 -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 4, 2018 to file lead plaintiff applications in a securities class action lawsuit against Longfin Corp. (NasdaqCM: LFIN), if they purchased the Company's shares between December 15, 2017 and April 2, 2018, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Longfin and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqcm-lfin/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 4, 2018.
About the Lawsuit
Longfin and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 26, 2018, Citron Research reported that the Company was "a pure stock scheme" and "[f]ilings and press releases are riddled with inaccuracies and fraud." Soon thereafter, global index operator FTSE Russell announced that Longfin was being removed from its global indices, less than two weeks after joining. The next day, Longfin CEO Meenavalli stated that the company would file its 10-K within three days; however, no such filing was made by then or during trading on April 2, 2018.
On this event, the price of Longfin's shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
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