Investor Alert: Kaplan Fox Announces Investigation Of Longfin Corp.

NEW YORK, April 3, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating Longfin Corp. ("Longfin" or the "Company") (NASDAQ: LFIN) concerning potential securities law violations.  Investors who purchased Longfin securities in the Company's December 2017 initial public offering (the "IPO") or since the IPO may be affected.

On or about December 13, 2017, Longfin completed the IPO of its Class A Common Stock. A total of 1,140,989 shares of Class A Common Stock were issued in the offering.

On December 15, 2017, Longfin announced the acquisition of Ziddu.com, a Blockchain-empowered solutions provider that offers Microfinance Lending against Collateralized Warehouse Receipts in the form of Ziddu Coins.  Following this news, Longfin's shares increased by over 308%, $16.62 per share, to close at $22.01 per share.  The next trading day Longfin's shares increased by about 229%, over $50 per share, to close at $72.38 per share.

On March 26, 2018, Citron Research reported that the Company was "a pure stock scheme" and that "[f]ilings and press releases are riddled with inaccuracies and fraud."  Following the publication of the Citron report, Longfin's shares declined by $11.82 per share, or 16.6%, to close at $59.28 per share on March 26, 2018.  Shares continued to decline the next three trading days to close at $17.26 per share on March 29, 2018.

On April 2, 2018 after the market closed, Longfin filed its Form 10-K Annual Report in which the Company disclosed that "[o]n March 5, 2018, the Division of Enforcement of the SEC informed the Company that it is conducting an investigation In the Matter of Trading in the Securities of Longfin Corp. and requested that the Company provide certain documents in connection with its investigation, including documents related to [Longfin's] IPO and other financings and the acquisition of Ziddu.com."  On April 3, 2018, the price of Longfin's shares declined significantly in midday trading.

If you are an investor in Longfin and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 800-290-1952.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, the action, your rights, or your interests, please contact:

Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: ffox@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com

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SOURCE Kaplan Fox & Kilsheimer LLP