INDUSTRY, Calif., Feb. 18, 2011 (GLOBE NEWSWIRE) -- On February 15, 2011, Tongxin International Ltd. (Pink Sheets:TXIC) dismissed its complaint in the United States District Court for the Central District of California against its former Chief Financial Officer and Chief Accounting Officer, Jackie Chang. TXIC and Jackie Chang will resolve their respective claims in arbitration in Michigan in accordance with Ms. Chang's employment contract.
In class actions against TXIC and its fiduciaries, Ms. Chang and other individuals were named as defendants. On January 14, 2011, Ms. Chang was dismissed by Abraham, Fruchter & Twersky, LLP from their class action pending in the Eastern District of New York. On January 28, 2011, Ms. Chang was dismissed by The Rosen Law from their class action pending in the Central District of California. On January 31, 2011, Ms. Chang was dismissed by Saxena White and Glancy Binkow in their class action pending in the Central District of California. Also, the Briscoe Law Firm of Dallas, Texas, and Ryan & Maniskas LLP of Wayne, Pennsylvania, are investigating claims against TXIC. They have agreed not to name Ms. Chang as a defendant in any action they may file.
CONTACT: Law Office of Charles L. Grotts Charles L. Grotts TEL: (626) 810-0006 Email: charles-TXIC@charlesgrotts.com