CASES
China Education Alliance, Inc.
Class Period: Mar 31, 2009 to Nov 29, 2010
Lead Plaintiff Deadline: Jan 31, 2011 + Deadline passed
Summary of Case:
A securities class action has been filed against China Education Alliance, Inc. (CEU) ( "China Education Alliance" or the "Company") on behalf of all securities purchasers from March 31, 2009 through November 29, 2010, inclusive ("Class Period") in the United States District Court for the Central District of California.
The complaint alleges that China Education Alliance and certain of its officers and directors misrepresented the Company's financial performance. Specifically, the complaint alleges that contrary to the Company's annual reports filed with the SEC for fiscal 2008, which reported $24.9 million of revenue, an annual report for the Company's main operating subsidiary filed with the Chinese authorities reported less than a million of revenue for 2008. This discrepancy, along with other accounting inconsistencies, and contradictions about the Company's online education and training center operating segments, has raised red flags of fraud. When this adverse information was released to the market on November 29, 2010 the price of China Education Alliance stock fell, substantially damaging investors.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.