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NEW YORK, June 12, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of investors that purchased ChinaCache securities (NASDAQ: CCIH) between April 10, 2015 and May 17, 2019 (the “Class Period”). Investors have until August 11, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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The complaint alleges that on April 29, 2019, ChinaCache filed a Form NT 20-F with the U.S. Securities and Exchange Commission revealing that it would delay filing its annual report for fiscal year 2018. On May 17, 2019, ChinaCache announced that the Company and its Chief Executive Officer and Chairman of the Board of Directors (“Chairman”), Song Wang (“Wang”), were under criminal investigation by a government prosecutor office in Beijing for charges of enterprise bribery. Wang resigned as CEO and Chairman, and on that same day, ChinaCache securities were halted from trading on the NASDAQ.
Further, on May 23, 2019, ChinaCache said that it received a NASDAQ Notification Letter, three days earlier on May 20, 2019, because it failed NASDAQ listing requirements by delaying its 2018 Form NT 20-F (the “NASDAQ Letter). The NASDAQ Letter also probed the company regarding the resignation of its auditor, Grant Thornton China, ChinaCache’s engagement of its new auditor, and the allegations of enterprise bribery by ChinaCache and Wang. To date, ChinaCache securities remain halted, and consequently ChinaCache securities are essentially valueless.
If you purchased ChinaCache securities during the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Dynagas lawsuit, please go to https://bespc.com/CCIH/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.