MILWAUKEE, May 7, 2013 (GLOBE NEWSWIRE) -- We are investigating possible securities fraud claims against Focus Media Holding Limited resulting from inaccurate statements Focus Media made regarding its financial performance and future prospects for the period March 19, 2008 and November 21, 2011.
Click here to learn more about the investigation: http://www.ademilaw.com/case/focus-media-holding-limited or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Our investigation focuses on the extent to which Focus Media issued false and misleading statements regarding its operations, financial statements and future prospects. Specifically, Focus Media failed to disclose that: (i) it had deliberately overpaid for certain acquisitions, thereby materially overstating its reported assets; (ii) Focus Media improperly impaired the value of certain reported assets; (iii) several purported acquisitions and dispositions were never consummated; (iv) Focus Media materially misstated the type and materially overstated the number of displays in its advertising network; (v) Focus Media engaged in undisclosed self-dealing and related-party transactions; (vi) as a result of above noted known, but undisclosed, practices, Focus Media's financial condition and operating results were materially misstated; (vii) its financial statements were not fairly presented in conformity with GAAP and were materially false and misleading; and (viii) based on the foregoing, Focus Media lacked a reasonable basis for its positive statements its business and prospects.
On November 21, 2011, a research report from Muddy Waters questioned Focus Media's accounting and business practices and stated that Focus Media was "a highly troubled enterprise that is run solely for the benefit of insiders."
In response to this report, the price of Focus Media American Depository Shares plummeted nearly 40% to a close of $15.43 on extremely heavy trading volume. On January 18, 2013, Focus Media disclosed that it was the focus of an SEC investigation related to its operations, finances and transactions.
If you wish to obtain additional information or have information about Focus Media, please contact Guri Ademi either at email@example.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/focus-media-holding-limited.
We specialize in securities fraud and shareholder litigation. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Ademi & O'Reilly, LLP Guri Ademi 3620 East Layton Ave. Cudahy, WI 53110 Toll Free: (866) 264-3995 Fax: (414) 482-8001 www.ademilaw.comSource:Ademi & O'Reilly, LLP