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NASDAQ: CNTF Shareholder Notice: Lawsuit Alleges Misleading Statements at China TechFaith Wireless Communication Technology Limited

Via: ReleaseWire

Updated 11:15 AM CST, Mon, January 28,2019

A lawsuit was filed on behalf of investors in China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) shares over alleged securities laws violations.

San Diego, CA -- (SBWIRE) -- 01/28/2019 -- The Shareholders Foundation announces that an investor, who purchased shares of China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF), filed a lawsuit over alleged violations of Federal Securities Laws by China TechFaith Wireless Communication Technology.

Investors in shares of China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) have certain options and for certain investors are short and strict deadlines running. Deadline: March 11, 2019. NASDAQ: CNTF investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On December 20, 2018, before the market opened, China TechFaith Wireless Communication Technology Limited reported that in connection with its sale of a subsidiary, China TechFaith Wireless Communication Technology Limited had recognized "an impairment loss of US$62.2 million under net loss from discontinued operations for the first half period ended on June 30, 2018."

The plaintiff claims that between July 12, 2018 through December 19, 2018, the defendants made false and/or misleading statements and/or failed to disclose that China TechFaith Wireless Communication Technology Limited's agreement to sell its wholly-owned subsidiary would not be as lucrative as it led investors to believe, that China TechFaith Wireless Communication Technology Limited failed to adequately disclose that changing market conditions would negatively impact profitability, and that as a result, defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) have certain options and should contact the Shareholders Foundation.

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaq-cntf-shareholder-notice-lawsuit-alleges-misleading-statements-at-china-techfaith-wireless-communication-technology-limited-1133536.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com