NEW YORK, Feb. 18, 2011 (GLOBE NEWSWIRE) -- 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 , or call Laurence Rosen, Esq. or Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email email@example.com or firstname.lastname@example.org 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 email@example.com or firstname.lastname@example.org. 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.
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 email@example.com firstname.lastname@example.org www.rosenlegal.com