WAYNE, Pa., Jan. 7, 2015 /PRNewswire/ -- Ryan & Maniskas, LLP has commenced an investigation into potential securities law violations by certain officers of Xoom Corporation ("Xoom" or the "Company") (NASDAQ: XOOM).

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Xoom shareholders who purchased Xoom shares should contact Richard A. Maniskas, Esquire at 877-316-3218 or at rmaniskas@rmclasslaw.com to learn more about this investigation or visit: www.rmclasslaw.com/cases/xoom.

On January 5, 2015, the company announced in a Securities and Exchange Commission ("SEC") filing that "on December 30, 2014, Xoom Corporation (the "Company") determined that it had been the victim of a criminal fraud. The incident involved employee impersonation and fraudulent requests targeting the Company's finance department, resulting in the transfer of $30.8 million in corporate cash to overseas accounts. As a result, the Company expects to record a one-time charge of $30.8 million in its fourth quarter of 2014. The Company believes that no customer data was involved nor was any customer's money involved in this matter and the Company's systems were not impacted. While this matter will result in some additional near-term expenses, the Company does not expect this incident to otherwise have a material impact on its business.

On January 2, January 3, and January 4, 2015, the Company's audit committee met to discuss the matter and authorized an independent investigation, to be assisted by outside advisors. While the Company has internal controls in place and has implemented additional internal procedures, its audit committee and advisors are reviewing these controls and processes as part of the investigation. The Company has contacted federal law enforcement authorities who are actively pursuing a multi-agency criminal investigation."

On this news, shares of Xoom fell $0.25 per share, or more than 1.30%, to $16.67 per share in intraday trading on January 6, 2015.

If you own Xoom shares and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free: (877) 316-3218 or visit: www.rmclasslaw.com/cases/xoom. You may also email Mr. Maniskas at rmaniskas@rmclasslaw.com. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.

Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

CONTACT: Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old Eagle School Rd., Suite 311
Wayne, PA 19087
877-316-3218
rmaniskas@rmclasslaw.com
www.rmclasslaw.com/cases/xoom

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SOURCE Ryan & Maniskas, LLP