DEADLINE TOMORROW: The Schall Law Firm Announces it is Investigating Claims Against China Auto Logistics Inc. & Encourages In...
August 05 2018 - 2:33PM
Business Wire
The Schall Law Firm, a national shareholder rights litigation
firm, announces that it is investigating claims on behalf of
investors of China Auto Logistics Inc. ("China Auto Logistics" or
the "Company") (Nasdaq: CALI) for violations of §§10(b) and
20(a) of the Securities Exchange Act of 1934 and Rule 10b-5
promulgated thereunder by the U.S. Securities and Exchange
Commission.
The investigation focuses on whether the Company issued false
and/or misleading statements and/or failed to disclose information
pertinent to investors. On April 2, 2018, China Auto Logistics
declared that it was unable to file its Annual Report on Form 10-K
for the period ended December 31, 2017 in a timely manner, because
it required additional time to “identify certain related party
transactions and the impact of such transactions for the
preparation of the financial statements for the Form 10-K.” The
Company also stated that it had identified a material weakness in
its internal controls related to “identifying and reporting certain
relationships and related transactions.” Once this news reached the
marketplace, shares of China Auto Logistics fell over 19%, or $0.66
per share to close at $2.79 on April 2, 2018.
If you are a shareholder who suffered a loss, click here to
participate.
We also encourage you to contact Brian Schall, or Sherin
Mahdavian, of the Schall Law Firm, 1880 Century Park East,
Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your
rights free of charge. You can also reach us through the firm's
website at www.schallfirm.com, or by email
at brian@schallfirm.com.
The class in this case has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder
rights litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and rules of
ethics.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180805005018/en/
The Schall Law FirmBrian Schall, Esq.Sherin Mahdavian,
Esq.310-301-3335info@schallfirm.comwww.schallfirm.com
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