The Rosen Law Firm Representing Shareholders in Class Action Lawsuit Charging China Intelligent Lighting and Electronics, Inc. -
April 01 2011 - 11:45PM
Marketwired
The Rosen Law Firm, P.A. today announced that it has filed a class
action lawsuit on behalf of investors who purchased the securities
of China Intelligent Lighting and Electronics, Inc. (NYSE Amex:
CIL) during the period from June 18, 2010 through March 29, 2011,
seeking to recover damages for violations of federal securities
laws.
To join the China Intelligent class action, visit the firm's
website at http://rosenlegal.com, or call Laurence Rosen, Esq. or
Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email
lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the
class action. The case filed by the Rosen Law Firm is pending in
the U.S. District Court for the Central District of California.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN
AN ABSENT CLASS MEMBER.
The Complaint asserts violations of the federal securities laws
against China Intelligent, its officers and directors, and
underwriters for issuing materially false and misleading
information in the Company's public offering documents. On March
29, 2011 the Company issued an announcement revealing that its
auditor MaloneBailey LLP ("MB") had resigned and that MB had
withdrawn its prior audit opinion of the Company's financial
statements. MB said it "believed that the accounting records of the
Company have been falsified, which constitutes an illegal act." MB
also found that the accounting discrepancies could indicate a
material error in previously issued financial statements. MB also
stated that it could no longer rely on management's
representations. The Company also disclosed that it is the subject
of a formal SEC investigation.
Since March 24, 2011 trading in the Company's stock has been
halted, rendering the Company's stock illiquid and damaging
investors.
If you wish to serve as lead plaintiff, you must move the Court
no later than May 31, 2011. A lead plaintiff is a representative
party acting on behalf of other class members in directing the
litigation. If you wish to join the litigation, or to discuss your
rights or interests regarding this class action, please contact
Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm,
toll-free, at 866-767-3653, or via e-mail at lrosen@rosenlegal.com
or pkim@rosenlegal.com. You may also visit the firm's website at
http://rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Contact: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law
Firm P.A. 275 Madison Avenue, 34th Floor New York, New York 10016
Tel: (212) 686-1060 Weekends Tel: (917) 797-4425 Toll Free:
1-866-767-3653 Fax: (212) 202-3827 Email Contact Email Contact
www.rosenlegal.com
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