CASES
ZST Digital Networks, Inc.
Class Period: Oct 20, 2009 to Apr 21, 2011
Lead Plaintiff Deadline: Jun 24, 2011 + Deadline passed
Summary of Case:
A securities class action has been filed against ZST Digital Networks, Inc. ("ZST DIGITAL" or the Company") on behalf of all persons who purchased the securities of ZST Digital from October 20, 2010 through April 21, 2011. This case has been filed in the USDC - California (Central).
The Complaint alleges as follows: On April 21, 2011 a news report was published by a market analyst revealing a number of red flags of potential fraud at ZST Digital. Namely, in connection with the Company's fiscal 2009 and 2008 financial results, the report states that "SEC filings report revenues hundreds of times of what is reported" to the Chinese regulators and the filings show that the Company "paid zero tax in China, but reported substantial amounts to the SEC." The report also identifies a number of other allegations indicating that the Company may have misled investors about its customers. When this adverse information entered the market, the price of the Company's securities fell, damaging investor
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