NEW YORK, July 10, 2015 (GLOBE NEWSWIRE) -- The Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of China Finance Online Co., Ltd. JRJC American Depository Shares from May 6, 2014 through June 3, 2015, both dates inclusive (the "Class Period"). The lawsuit seeks to recover damages for China Finance Online investors under the federal securities laws.
To join the China Finance Online class action, go to the firm's website at http://www.rosenlegal.com/cases-628.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action. The lawsuit is pending in U.S. District Court for the Central District of California.
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. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) China Finance Online's Chairman of the Board of Directors and Chief Executive Officer Zhiwei Zhao had an indirect equity interest in Langfang Developer at the time of the Company's investment; (2) Zhiwei Zhao suddenly resigned from his positions at three key Chinese Variable Interest Entities of China Finance Online; and (3) as a result of the foregoing, China Finance Online's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 4, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm's website at http://www.rosenlegal.com/cases-628.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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