The Law Firm of Levi & Korsinsky, LLP Announces Investigation of Jingwei International Limited in Connection with the Sale of the Company to its Chairman and CEO

NEW YORK--(BUSINESS WIRE)--

Levi & Korsinsky is investigating the Board of Directors of Jingwei International Limited (“Jingwei” or the “Company”) JNGW for possible breaches of fiduciary duty and other violations of state law in connection with the acceptance of a going private proposal by its Chairman and Chief Executive Officer, George (Jianguo) Du, who owns approximately 41% of the Company's common stock. The Board is recommending a reverse stock split transaction that would include a reverse split at a 1-for-20,000 share ratio whereby each 20,000 outstanding shares of Jingwei common shares will be converted into one whole share and, in lieu of issuing fractional shares to shareholders owning less than 20,000 pre-reverse stock split shares, Jingwei will pay cash equal to $2.20 multiplied by the number of pre-reverse stock split shares held by such shareholder. Immediately following the reverse stock split, the Company will file a second amendment to its articles of incorporation to effect a 20,000-for-1 forward stock split. As a result, shareholders owning 20,000 or more common shares at the time of the reverse split will retain their current numbers of common shares without change and not receive cash in the transaction.

Click here to learn how to join the action: http://www.zlk.com/jingwei-international-jngw, or call: 877-363-5972.

The investigation concerns, among other things, whether the consideration to be paid to Jingwei shareholders is unfair, inadequate, and substantially below the fair or inherent value of Jingwei. In particular, Jingwei reported a book value of $2.98 per share for the most recent quarter.

If you own common stock in Jingwei and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://www.zlk.com.

Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C. The firm has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.