N🟁N

Bronstein, Gewirtz & Grossman, LLC Investigating Possible Securities Law Violations at China Automotive Systems, Inc.

  //house-home.news-articles.net/content/2011/03/2 .. -violations-at-china-automotive-systems-inc.html
  Published in House and Home on Thursday, March 24th 2011 at 14:20 GMT by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

NEW YORK--([ BUSINESS WIRE ])--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of China Automotive, Inc. (aChina Automotivea or the aCompanya) (NASDAQ: CAAS), concerning whether the company has violated federal securities laws.

Shares of China Automotive dropped from a close of $10.23 per share on March 16, 2011 to a closing price of $8.81 per share On March 17, 2011 on news it expected to restate its financials. On March 17, 2011, the Companya™s audit committee of the board of directors stated it would delay its annual financial statement and would need to restate all previously issued financial statements for the fiscal year 2009 and the first three quarters of 2010 and that these financial statements should no longer be relied upon. On March 18, 2011 the company announced that it received a letter from the NASDAQ stating that the company is no longer in compliance with NASDAQ Marketplace rules.

If you are aware of any facts relating to this investigation, or purchased shares of MED, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [ eitan@bgandg.com ]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firma™s expertise includes general corporate work, private securities offerings, and securities arbitration.