NEW YORK, Aug. 6, 2019 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against ChinaCache International Holdings Ltd. ("ChinaCache" or the "Company") (NASDAQ: CCIH) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired ChinaCache securities from April 10, 2015 through May 17, 2019, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/ccih.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) ChinaCache and Defendant Song Wang, the Company's former Chief Executive Officer, were engaged in enterprise bribery; (2) 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 (3) defendants' positive statements about ChinaCache's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On April 29, 2019, ChinaCache filed a Form NT 20-F with the U.S. Securities and Exchange Commission ("SEC") revealing that it would delay filing its annual report for the 2018 fiscal year. On May 17, 2019, the Company announced that it and its Chief Executive Officer ("CEO") and Chairman of the Board of Directors ("Chairman"), Song Wang ("Wang"), were under criminal investigation by a government prosecutor office in Beijing for charges of enterprise bribery. Wang resigned as CEO and Chairman, and on that same day, ChinaCache securities were halted from trading on the NASDAQ. On May 23, 2019, ChinaCache said that it received a NASDAQ Notification Letter, three days earlier on May 20, 2019 because it failed NASDAQ listing requirements by delaying its 2018 Form NT 20-F (the "NASDAQ Letter"). The NASDAQ Letter also probed the company 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.
If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/ccih or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in ChinaCache you have until August 12, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:Bronstein, Gewirtz & Grossman, LLCPeretz Bronstein or Yael Hurwitz 212-697-6484 | firstname.lastname@example.org
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