NEW YORK, Jan. 6, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Xoom Corporation ("XOOM" or the "Company") (NasdaqGS: XOOM -News). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at info@bgandg.com or 212-697-6484.
The investigation concerns whether XOOM and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On Monday January 5, 2015 the company announced in a regulatory report that, "On December 30, 2014, Xoom Corporation (the "Company") determined that it had been the victim of a criminal fraud. The incident involved employee impersonation and fraudulent requests targeting the Company's finance department, resulting in the transfer of $30.8 million in corporate cash to overseas accounts. As a result, the Company expects to record a one-time charge of $30.8 million in its fourth quarter of 2014. The Company believes that no customer data was involved nor was any customer's money involved in this matter and the Company's systems were not impacted. While this matter will result in some additional near-term expenses, the Company does not expect this incident to otherwise have a material impact on its business."
Xoom also announced Monday after the market closed that its CFO Matt Hibbard resigned. Hibbard's departure "is not the result of any disagreement or dispute with the Company," Xoom said. Ryno Blignaut will replace Hibbard as acting CFO.
On this news, shares of Xoom fell $0.66 or 3.91%, during intraday trading to trade at $16.23 on January 6, 2015.
If you are aware of any facts relating to this investigation, or purchased shares of MiMedx, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
info@bgandg.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-bronstein-gewirtz--grossman-llc-announces-investigation-of-xoom-corporation-300016446.html
SOURCE Bronstein, Gewirtz & Grossman, LLC
