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Thu, April 21, 2011Wed, April 20, 2011Tue, April 19, 2011Mon, April 18, 2011Sun, April 17, 2011Fri, April 15, 2011Thu, April 14, 2011Wed, April 13, 2011Tue, April 12, 2011Mon, April 11, 2011Sat, April 9, 2011Fri, April 8, 2011Thu, April 7, 2011Wed, April 6, 2011Tue, April 5, 2011Mon, April 4, 2011Sat, April 2, 2011Fri, April 1, 2011Thu, March 31, 2011Wed, March 30, 2011Tue, March 29, 2011Mon, March 28, 2011Sun, March 27, 2011Fri, March 25, 2011Thu, March 24, 2011Wed, March 23, 2011Tue, March 22, 2011Mon, March 21, 2011Law Offices of Howard G. Smith Announces Class Action Lawsuit Against China Electric Motor, Inc.
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Published in House and Home on Tuesday, April 5th 2011 at 19:20 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of all persons or entities who purchased the securities of China Electric Motor, Inc. (aChina Electric Motora or the aCompanya) (NASDAQ:CELM) between January 29, 2010 and March 30, 2011, inclusive (the aClass Perioda). The class action lawsuit was filed in the United States District Court for the Central District of California.
"possible discrepancies concerning the Company's banking statements that were very recently identified by the Companya™s auditors in the course of their audit of the consolidated financial statements for the fiscal year ended December 31, 2010."
China Electric Motor engages in the design, manufacture, sale and marketing of micro-motors and micro-motor components in the Peoplea™s Republic of China and internationally. The Complaint alleges that during the Class Period the Company violated federal securities laws by issuing material misrepresentations to the market concerning China Electric Motora™s operations and financial condition, thereby artificially inflating the price of the Companya™s securities.
On March 31, 2011, the Company announced it would be unable to timely issue its fiscal year 2010 financial results due to apossible discrepancies concerning the Company's banking statements that were very recently identified by the Companya™s auditors in the course of their audit of the consolidated financial statements for the fiscal year ended December 31, 2010."
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased China Electric Motor securities between January 29, 2010 and March 30, 2011, you have certain rights, and have until May 31, 2011, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to [ howardsmith@howardsmithlaw.com ] or visit our website at [ www.howardsmithlaw.com ].
