Rosen Law Firm Reminds Investors of Important Deadline in Class Action Against ChinaCast Education Corporation -- CAST
Published on Friday, 15 June 2012 23:15 Written by TradersHuddle Staff
NEW YORK, June 15, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. reminds investors of the important July 25, 2012 lead plaintiff deadline in the class action lawsuit the firm filed on behalf of securities purchasers of ChinaCast Education Corporation (Nasdaq:CAST) ("ChinaCast") between February 14, 2011 and April 2, 2012 (the "Class Period").
The Complaint asserts violations of the federal securities laws against ChinaCast and its present and former officers and directors for issuing false and misleading information to investors about the Company's true financial and business condition. Specifically, the Complaint alleges ChinaCast issued materially false and misleading financial statements during the Class Period because undisclosed material weaknesses in the Company's internal controls and the alleged wrongful transfer of $120 million in cash by CEO Chan from bank accounts of ChinaCast's subsidiaries.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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