NEW YORK, March 25, 2011 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. is representing shareholders in the securities class action arising from allegations that China MediaExpress Holdings, Inc. (Nasdaq:CCME) fraudulently misstated its revenue. The class action is on behalf of purchasers of China MediaExpress stock during the period from May 14, 2010 through March 11, 2011. If you wish to serve as lead plaintiff, you must move the Court no later than April 5, 2011.
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 China MediaExpress class action, visit the Rosen Law Firm's website at , or call Laurence Rosen, Esq. or Jonathan Horne, Esq., toll-free, at 866-767-3653; you may also email lrosen@rosenlegal.com or jhorne@rosenlegal.com for information on the class action.
The Complaint alleges violations of the Securities Exchange Act against China MediaExpress and its Chief Executive Officer, Zheng Cheng. The Complaint alleges that (1) the Company misrepresented the number of buses in its advertising network; (2) the Company misrepresented the nature and extent of its business relationships; and (3) the Company overstated its revenue.
On March 11, 2011, trading in China MediaExpress shares was halted pending an announcement. On March 14, 2011, China MediaExpress's auditor, Deloitte Touche & Tomatsu ("DTT") resigned, claiming it could no longer rely on the Company's management, and advising the Company to create an independent committee to review allegations of fraud. On March 18, 2011, C.V. Starr, China MediaExpress's largest investor, sued the Company for securities fraud in an individual action.
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 Laurence Rosen, Esq. or Jonathan Horne, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at lrosen@rosenlegal.com or jhorne@rosenlegal.com. You may also visit the firm's website at .
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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CONTACT: Laurence Rosen, Esq. Jonathan Horne, 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 jhorne@rosenlegal.com www.rosenlegal.com