Rosen Law Firm -- Representing Tongxin International Ltd. Shareholders -- Reminds Investors of Important March 4, 2011 Deadline
2011年2月19日 - 9:33AM
The Rosen Law Firm, P.A. reminds investors of the March 4, 2011
lead plaintiff deadline in the securities class action. If you
purchased the common stock of Tongxin International Ltd. ("Tongxin"
or the "Company") (Pink Sheets:TXIC) during the period between May
15, 2009 and December 14, 2010, inclusive (the "Class Period"), you
should contact the Rosen Law Firm for more information about the
importance of serving as a lead plaintiff. The lawsuit is
seeking to recover damages for investors from violations of federal
securities laws.
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.
To join the Tongxin class action, visit the Rosen Law Firm's
website at http://www.rosenlegal.com, or call Laurence Rosen, Esq.
or Phillip Kim, Esq., toll-free, at 866-767-3653; you may also
email lrosen@rosenlegal.com or pkim@rosenlegal.com for information
on the class action. The case is pending in the U.S. District
Court for the Central District of California.
The Complaint alleges violations of the Securities Exchange Act
against Tongxin and certain of its officers and directors for
misrepresenting the Company's financial performance and results.
Particularly, defendants improperly accounted for Tongxin's
material related party transactions. The Complaint alleges
that beginning in June 2010, the Company, began to disclose to
investors, including their failure to timely file with the SEC its
required audited consolidated financial statements, the delisting
of the Company's stock on NASDAQ, the Company's lowered expected
revenues for fiscal year 2010, removal of key executives, and the
announcement of the Company's legal proceedings against their
former Chief Executive Officer and Chief Financial Officer for
embezzlement. According to the Complaint, when this adverse
information entered the market, the value of the Tongxin's common
stock fell, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court
no later than March 4, 2011. If you wish to join the
litigation, or to discuss your rights or interests regarding this
class action, please contact Laurence Rosen, Esq. or Phillip Kim,
Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via
e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.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.
Attorney Advertising. Prior results do not guarantee a
similar outcome.
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
lrosen@rosenlegal.com
pkim@rosenlegal.com
www.rosenlegal.com
Tongxin (CE) (USOTC:TXIC)
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