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Murray, Frank & Sailer LLP Announces Investigation of Securities Fraud Claims Against China Intelligent Lighting and Electronic

  //house-home.news-articles.net/content/2011/04/1 .. t-china-intelligent-lighting-and-electronic.html
  Published in House and Home on Friday, April 15th 2011 at 9:05 GMT by Market Wire
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NEW YORK--([ BUSINESS WIRE ])--MURRAY, FRANK & SAILER LLP is investigating securities fraud claims against China Intelligent Lighting and Electronics, Inc. (aChina Intelligenta or the aCompanya) (AMEX: CIL) and certain of its officers, on behalf of purchasers of China Intelligent securities between June 18, 2010 and March 29 , 2011, inclusive (the aClass Perioda).

The investigation concerns violations of the Securities Act of 1933 (the aSecurities Acta) and the Securities Exchange Act of 1934 (the aExchange Acta) that occurred when the Defendants issued materially false and misleading statements or omitted to state material information during the Class Period regarding China Intelligenta™s financial performance, business prospects, and internal controls.

Specifically, it is alleged that during the Class Period, the Defendants made false and/or misleading statements and/or failed to disclose that the financial statements for fiscal year 2009 and the first quarter of fiscal year 2010, included in China Intelligenta™s Registration Statement, were materially false and misleading. Further, it is alleged that as a result of the Defendantsa™ misstatements, China Intelligenta™s stock traded at artificially inflated prices throughout the Class Period.

On March 24, 2011, trading in China Intelligenta™s stock was halted without explanation. Subsequently, on March 29, 2011, the Company issued a press release announcing, among other things, (1) the resignation/termination of the Companya™s auditor, due to the auditora™s belief that the Companya™s accounting records had been falsified, and that as a result the Companya™s financial statements contained material errors and could not be relied upon; (2) that the SEC had initiated a formal, non-public investigation into whether the Company had made material misstatements or omissions concerning its financial statements; (3) that the Company had formed a Special Committee to investigate the concerns of its auditor; and (4) that the Company would be unable to timely issue its financial results for fiscal year 2010.

If you purchased China Intelligent securities within the Class Period, and you wish to discuss this investigation, or have any questions concerning this notice or your rights or interests with respect to these matters, please contact us.