A couple of law firms launched suits agains China MediaExpress Holdings Inc. just before the Chinese New Year:
Robbins Geller Rudman & Dowd LLP ("Robbins Geller") (http://www.rgrdlaw.com/cases/chinamedia/
) today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of China MediaExpress Holdings, Inc. ("China MediaExpress" or the "Company") (NASDAQ:CCME) securities between November 8, 2010 and February 3, 2011, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act").
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at firstname.lastname@example.org
. If you are a member of this Class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/chinamedia/
. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges China MediaExpress with violations of the Exchange Act. China MediaExpress provides television advertising network on inter-city express buses in China.
The complaint alleges that, throughout the Class Period, defendant failed to disclose material adverse facts about the Company's true financial condition, business and prospects. Specifically, the complaint alleges that defendant's statements were materially false and misleading because they misrepresented and overstated the financial condition of the Company.
On February 3, 2011, Muddy Waters Research initiated coverage on China MediaExpress with a strong sell rating on China MediaExpress stock. In its report, Muddy Waters questioned the accuracy of many of the Company's statements and the quality of the Company's earnings.
In response to the report, the price of China MediaExpress securities declined substantially, falling from $16.61 per share to $11.09 per share on extremely heavy trading volume.
Plaintiff seeks to recover damages on behalf of all purchasers of China MediaExpress securities during the Class Period (the "Class"). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Robbins Geller, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Robbins Geller Web site (http://www.rgrdlaw.com
) has more information about the firm.
SOURCE: Robbins Geller Rudman & Dowd LLP
Robbins Geller Rudman & Dowd LLP Samuel H. Rudman, 800-449-4900 David A. Rosenfeld email@example.com
And this one:
The law firm of Federman & Sherwood has initiated an investigation into China MediaExpress Holdings, Inc. (NASDAQ: CCME) ("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.
SOURCE: Federman & Sherwood
Federman & Sherwood William B. Federman, 405-235-1560 firstname.lastname@example.org http://www.federmanlaw.com
This created a great deal of anger by the company which is trying to defend itself against what they regard as completely false and fraudulent charges: http://investorshub.advfn.com/boards/bo ... d_id=16418
Stay tuned and watch the CCME stock reflect investor confidence or mistrust during the trading hours during this week.
'There are two kinds of injustice: the first is found in those who do an injury, the second in those who fail to protect another from injury when they can.' (Roman. Cicero, De Off. I. vii)
'Choose loss rather than shameful gains.' (Chilon Fr. 10. Diels)