Cohen Milstein Sellers & Toll PLLC Announces the Investigation of ChinaCast Education Corporation

WASHINGTON--(BUSINESS WIRE)--

Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether ChinaCast Education Corporation (“ChinaCast” or the “Company”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

A class action lawsuit was filed in the U.S. District Court for the Southern District of New York by another law firm on behalf of purchasers of the common stock of ChinaCast Education Corporation CAST between April 18, 2009 and April 19, 2012, inclusive (the “Class Period”).

The complaint was brought against Deloitte Touche Tohmatsu CPA Ltd. (“DTTC”) and Deloitte & Touche LLP alleging that DTTC's audit reports concerning ChinaCast falsely stated that DTTC had followed applicable audit standards, and that Deloitte & Touche, LLP controlled DTTC. The claims in this case arise from allegations regarding the alleged looting of ChinaCast by its founder and former Chairman and CEO, Ron Chan Tze Ngon (“Chan”) together with the Company's Chief Investment Officer, Xiangyuan Jiang (“Jiang”). Among other things, Chan, Jiang and their associates were accused of engaging in unauthorized transfers of the Company's assets, making undisclosed third-party loans, and engaging in other improper or illegal activities, including misappropriating licenses and corporate seals (referred to as "chops") the Company needed to conduct business in China.

Cohen Milstein encourages all investors who purchased ChinaCast common stock between April 18, 2009 and April 19, 2012, or former employees with information concerning this matter to contact the firm.

If you are a ChinaCast shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein's Managing Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or email him at stoll@cohenmilstein.com. If you wish to serve as lead plaintiff, you must move the Court no later than June 17, 2014 to request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your share in any recovery will not be enhanced or diminished by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may retain Cohen Milstein Sellers & Toll PLLC or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.

Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Chicago, Philadelphia and Palm Beach Gardens, and is active in major litigation pending in federal and state courts throughout the nation.

The firm's reputation for excellence has repeatedly been recognized by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen Milstein Sellers & Toll PLLC has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over one billion dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com.

If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:

Steven J. Toll, Esq.
Daniel Sutter
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
West Tower, Suite 500
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: stoll@cohenmilstein.com; dsutter@cohenmilstein.com

Attorney Advertising