Investigation on Behalf of Money transfer firm Xoom
Latest news on Money transfer firm Xoom fraud
Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of shareholders of Xoom Corporation (“Xoom” or the “Company”) (NASDAQ:XOOM) concerning possible breaches of fiduciary duties by the Company’s Board Of Directors. Xoom provides digital consumer-to-consumer online money transfers services in the United States and internationally.
Read also: Money transfer firm Xoom suffers $30.8m fraud
The investigation is related to the Company’s January 5, 2015, disclosure that Xoom determined that it had been the victim of a criminal fraud involving employee impersonation and fraudulent requests targeting the Company’s finance department, resulting in the transfer of more than $30 million in corporate cash to overseas accounts. The Company also announced that Matt Hibbard resigned as chief financial officer, effective immediately.
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