Rosen Law Firm Files Class Action Against ChinaCast Education Corporation - CAST
The Rosen Law Firm, P.A. today announced that it has filed a class action lawsuit on behalf of investors who purchased the stock of ChinaCast Education Corporation (NASDAQ: CAST) (“ChinaCast” or “Company”) between February 14, 2011 and April 2, 2012, inclusive (the "Class Period").
To join the ChinaCast class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email firstname.lastname@example.org for information on the class action, 如果您講中文，請致電張律師212-686-1060，或電郵 email@example.com, 獲取該集體訴訟案件的具體信息. The action filed by the Rosen Law Firm is pending in the District Court for 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 CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint asserts violations of the federal securities laws against ChinaCast and its officers and directors for issuing false and misleading information to investors about the Company's true financial and business condition. Specifically, the Complaint alleges ChinaCast issued materially false and misleading financial statements during the Class Period because of undisclosed material weaknesses in the Company's internal controls and the alleged wrongful transfer of $120 million in cash by CEO Chan from bank accounts of ChinaCast's subsidiaries.
If you wish to serve as lead plaintiff, you must move the Court no later than July 25, 2012. 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, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at firstname.lastname@example.org. You may also visit the firm's website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.