NEW YORK, NY / ACCESSWIRE / February 7, 2018 / Pomerantz LLP announces that a class action lawsuit has been filed against Xunlei Limited ("Xunlei" or the "Company") (XNET) and certain of its officers. The class action, filed in United States District Court, for the Southern District of New York, and docketed under 18-cv-00646, is on behalf of a class consisting of investors who purchased or otherwise acquired Xunlei securities, seeking to recover compensable damages caused by defendants' violations of the Securities Exchange Act of 1934.

If you are a shareholder who purchased Xunlei securities between October 10, 2017, and January 11, 2018, both dates inclusive, you have until March 20, 2018, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

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Xunlei is a cloud-based acceleration technology company operating an internet platform in China based on cloud technology to enable users to access, manage, and consume digital media content. The Company's main product is OneCloud, a network linked storage device allowing multiple users to share online storage remotely and a "mining machine" for users to share their idle bandwidth with Xunlei's content delivery networks.

On October 10, 2017, Xunlei issued a press release announcing the introduction of "OneCoin", a blockchain-based product with no central bank endorsed value. OneCoin was subsequently renamed "Lianke".

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Xunlei had engaged in an unlawful financial activity; (ii) OneCoin was a form of disguised initial coin offering ("ICO"); (iii) Xunlei was engaged in the promotion of an Initial Miner Offering ("IMO"); and (iv) as a result of the foregoing, Defendants' statements about Xunlei's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On or about November 24, 2017, various news outlets in China reported that Xunlei's business partner Shenzhen Xunlei Big Data Information Services Company Ltd. ("Big Data") was accusing Xunlei of conducting an unlawful ICO through the Company's OneCoin project.