NEW YORK, Dec. 20, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm today announced the filing of a class action lawsuit on behalf of investors who purchased the securities of Qiao Xing Mobile Communication Company Ltd. (QXMCF, QXM) during the period from September 10, 2010 through May 2, 2012.
To join the Qiao Xing Mobile class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email firstname.lastname@example.org for information on the class action.
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 Qiao Xing Mobile and its officers and directors for issuing false and misleading statements about the Company's financial and business condition. Specifically, the Complaint alleges defendants concealed from investors the Company's lack of internal controls and corporate governance, which rendered the Company's public statements during the Class Period materially false and misleading. As a result, the Company's stock has been delisted and the Company's has gone "dark." The Complaint alleges that when this adverse information began to enter the market the price of Qiao Xing Mobile securities dropped, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than February 19, 2013. 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 Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at email@example.com. You may also visit the firm's website at http://www.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 firstname.lastname@example.org email@example.com www.rosenlegal.comSource: The Rosen Law Firm PA PC