INVESTOR UPDATE: Counsel in the First Filed Class Action Against Xoom Corp. Issues Update

NEW YORK--(BUSINESS WIRE)--

The Rosen Law Firm, P.A., a global investor rights firm, issues this update to purchasers of the common stock of Xoom Corp. XOOM pursuant and/or traceable to its initial public offering conducted on February 14, 2013. The lawsuit seeks to recover investors' losses by asserting claims under the federal securities laws.

The Rosen Law Firm filed the first class action lawsuit on behalf of Xoom investors. We issue this update to address questions raised by investors. The Rosen Law Firm filed the class action suit on behalf of Xoom shareholders in the Superior Court of the State of California for the County of San Francisco on January 6, 2015. On February 6, 2015, Xoom filed papers to have the lawsuit heard in the U.S. District Court for the Northern District of California. On February 27, 2015, we filed a motion in the U.S. District Court asking the Court to return the case back to the Superior Court of San Francisco. That motion is pending and set for hearing on July 2, 2015. To date, no similar actions have been filed in U.S. District Court for the Northern District of California.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.

To join the Xoom class action, visit the firm's website at http://www.rosenlegal.com/cases-504.html, or contact Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or via email at email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.

If you wish to join the litigation go to http://www.rosenlegal.com/cases-504.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll-free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.