A lawsuit was filed on behalf of investors in ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ: CCIH) shares over alleged securities laws violations. Deadline: August 12, 2019. NASDAQ: CCIH investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/25/2019 -- An investor, who purchased shares of ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ: CCIH), filed a lawsuit over alleged Securities Laws violations by ChinaCache Internatnl Hldgs Ltd.
Investors who purchased shares of ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ: CCIH) have certain options and for certain investors are short and strict deadlines running. Deadline: August 12, 2019. NASDAQ: CCIH investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Beijing, China based ChinaCache International Holdings Ltd., an investment holding company, provides content and application delivery services in the People's Republic of China.
On April 29, 2019, ChinaCache Internatnl Hldgs Ltd filed a Form NT 20-F with the U.S. Securities and Exchange Commission ("SEC") announcing that it would not be able to timely file its annual report for the fiscal year 2018.
On May 17, 2019, ChinaCache Internatnl Hldgs Ltd e disclosed that ChinaCache Internatnl Hldgs Ltd and its Chief Executive Officer ("CEO") and Chairman of the Board of Directors ("Chairman"), Song Wang ("Wang"), were under criminal investigation for allegations of enterprise bribery by a government prosecutors' office in Beijing. Wang resigned as CEO and Chairman. Further, on May 17, 2019, NASDAQ halted trading in ChinaCache securities.
Then, on May 23, 2019, ChinaCache Internatnl Hldgs Ltd revealed that it received a NASDAQ Notification Letter on May 20, 2019 because the Company was not in compliance with NASDAQ listing requirements as it failed to file timely its annual report on Form 20-F for the fiscal year 2018 (the "NASDAQ Letter"). The NASDAQ Letter also contained inquires to ChinaCache regarding the resignation of its auditor, Grant Thornton China, ChinaCache's engagement of its new independent auditor, and the allegations of enterprise bribery by ChinaCache and Wang. Trading in ChinaCache securities remains halted, accordingly ChinaCache securities are illiquid and effectively worthless.
Theplaintiff claims that between April 10, 2015 and May 17, 2019, the defendants made false and/or misleading statements and/or failed to disclose that ChinaCache and Defendant Song Wang, the Company's former Chief Executive Officer, were engaged in enterprise bribery, that the foregoing conduct placed ChinaCache and Wang at a heightened risk of criminal investigation and enforcement action by government authorities, which would foreseeably disrupt the Company's operations, and that the defendants' positive statements about ChinaCache's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ: CCIH) have certain options and should contact the Shareholders Foundation.
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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.
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