CASES
China MediaExpress Holdings, Inc.
Class Period: May 5, 2010 to Mar 11, 2011
Lead Plaintiff Deadline: Apr 5, 2011 + Deadline passed
Summary of Case:
A securities class action has been filed against China MediaExpress Holdings, Inc. (CCME) ("China MediaExpress" or the "Company") on behalf of all securities purchasers from November 8, 2010 through February 3, 2011, inclusive ("Class Period") in the United States District Court for the Southern District of New York.
The complaint alleges that throughout the Class Period, defendant failed to disclose material adverse facts about China MediaExpress's true financial condition, business and prospects. Specifically, 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.
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.