Fang Holdings Ltd (NYSE:SFUN) Investor Investigation Over Possible Violations Of Securities Laws

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Company Name(s): 
Fang Holdings
Affected Securities: 

April 3, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Fang Holdings Ltd (NYSE:SFUN) shares over potential securities laws violations by Fang Holdings Ltd and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Fang Holdings Ltd (NYSE:SFUN) concerning whether a series of statements by Fang Holdings Ltd regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Fang Holdings Ltd reported that its annual Total Revenue rose from $702.88 million in 2014 to $883.55 million in 2015 and that its Net Income of $253.22 million in 2015 declined to a Net Loss of $15.10 million in 2015.

On March 29, 2017, it was reported that Beijing City’s housing commission canceled the brokerage license of a unit of Fang Holdings Ltd because the unit posted fake online information for property sales.

Shares of Fang Holdings Ltd (NYSE:SFUN) declined from $7.57 per share in November 2015 to as low as $2.46 per share on March 29, 2017.