Wins Finance Losses Update: Securities Class Action Lawsuit Against Wins Finance Holdings Inc. (WINS)
Wins Finance Holdings (NASDAQ: WINS) has been accused of making false or misleading statements regarding its projected earnings, valuation, and future business operations that artificially inflated the price of the company’s shares, in an investor lawsuit recently filed against it.
Wins Finance was sued after SeekingAlpha.com published, on March 30, 2017, an article stating that the SEC is actively investigating Wins Finance for alleged “market manipulation.” When this news was announced, the stock price of Wins Finance fell, causing considerable losses to its investors.
The lawsuit against Wins Finance alleges that defendants made false or misleading statements or failed to disclose that: (1) Wins did not maintain a U.S. headquarters; (2) Wins had intentionally misrepresented its headquarters to gain inclusion on the Russell indexes; (3) Wins was not in compliance with SEC regulations; and (4) Wins failed to maintain adequate internal controls. When the true details entered the market, the investors suffered damages, the lawsuit alleges.
Wins investors who wish to serve as lead plaintiff in the recently-filed class action must move the Court no later than June 5, 2017. If you wish to join the litigation, please contact Jason Kane at (585) 310-5140 or by email at firstname.lastname@example.org.
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