CCME: pump/dump done, lawsuits begin
Let the lawsuits begin as the scandal winds down... I wish all of you stuck with this stock the best of luck in courts -- perhaps there's still something to recover? If you've been part of the victim class, please do join the lawsuits, they are our best hope of stamping out these violations of security law in the future, as the SEC is powerless to protect us.
Federman & Sherwood has Launched an Investigation of China MediaExpress Holdings, Inc. for Possible Violations of Federal...
OKLAHOMA CITY, Feb 04, 2011 (BUSINESS WIRE) --
The law firm of Federman & Sherwood has initiated an investigation into China MediaExpress Holdings, Inc. (NASDAQ: CCME | PowerRating) ("CCME") with respect to potential violations of federal securities laws.
It is believed that CCME has been engaging in a massive "pump" and dump" scheme, whereby it significantly inflates its earnings and revenues through a series of materially false and misleading statements and announcements in order to enrich its management. The company has also issued announcements as to its future business prospects and ventures, which have proven to be false.
If you purchased common stock in China MediaExpress Holdings, Inc. between March 31, 2009 and February 1, 2011, and wish to discuss this action, or have any questions or concerns regarding this notice or preservation of your rights, please contact our firm. Federman & Sherwood has extensive experience representing investors in securities, derivative and merger-related shareholder class actions.
NEW YORK, Feb. 3, 2011 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that it is investigating potential securities fraud claims against China MediaExpress Holdings, Inc. (Nasdaq:CCME) ("China MediaExpress" or the "Company") resulting from allegations that the Company may have issued materially inaccurate financial statements to the investing public between March 31, 2009 and January 31, 2011.
On January 31, 2011, analyst firm Citron Research issued a report alleging that China MediaExpress misrepresented its financial performance, business prospects, and financial condition to investors. On February 3, 2011, analyst firm Muddy Waters issued a report echoing Citron Research's allegations of fraud.
Citing a number of sources, the reports assert that the Company's revenues were substantially overstated and that the Company exaggerated the extent of its business operations. These disclosures of potential fraud concerning China MediaExpress caused the stock price to drop, damaging investors.
The Rosen Law Firm is investigating a securities class action lawsuit on behalf of China MediaExpress investors. If you purchased China MediaExpress stock between March 31, 2009 and January 31, 2011, please visit the website at http://rosenlegal.com for more information. You may also contact Laurence Rosen, Esq., or Jonathan Horne, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.