NEW YORK, June 17, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased China Ceramics Co., Ltd. ("China Ceramics" or the "Company") (Nasdaq:CCCL) common stock between March 30, 2012 and May 1, 2014.
For more information, click here: http://zlk.9nl.com/china-ceramics-cccl.
The complaint alleges that throughout the Class Period defendants misrepresented and/or failed to disclose material weakness in the Company's internal control over financial reporting.
On November 13, 2013, the Company disclosed a substantial asset writedown of property, plant and equipment. Then on May 1, 2013, trading of China Ceramics common stock was halted. That same day, China Ceramics announced that: (a) it had terminated the engagement of its principal independent registered public accounts, (b) the Chairman of the Audit Committee resigned; (c) the Company's financial reports would be delayed; and (d) during the preparation of financial statements for 2013 the Company identified a write down of assets for the fourth quarter, resulting from unused capacity at its Hengdali facility.
If you suffered a loss in China Ceramics you have until August 5, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/china-ceramics-cccl.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP