EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against ChinaCache International Holdings Ltd. – CCIH
NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it is
investigating potential securities claims on behalf of investors of
ChinaCache International Holdings Ltd. (NASDAQ: CCIH) resulting from
allegations that ChinaCache may have issued materially misleading
business information to the investing public.
On April 29, 2019, ChinaCache 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 disclosed that ChinaCache 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 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.
Rosen Law Firm is preparing a class action lawsuit to recover losses
suffered by ChinaCache investors. If you purchased shares of ChinaCache,
please visit the firm’s website at https://www.rosenlegal.com/cases-register-1585.html
to join the class action. You may also contact Phillip Kim of Rosen Law
Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com
or cases@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class
Action Services for number of securities class action settlements in
2017. The firm has been ranked in the top 3 each year since 2013. Rosen
Law Firm has secured hundreds of millions of dollars for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contacts
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275
Madison Avenue, 34th Floor
New York, NY 10016
Tel:
(212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com