SOURCE: Dyer & Berens LLP

Dyer & Berens LLP

February 07, 2011 12:32 ET

Dyer & Berens LLP Files Class Action Lawsuit on Behalf of Investors Who Purchased China MediaExpress Holdings, Inc. Securities Between 11/8/10 and 2/3/11; Announces Upcoming Investor Deadline (CCME)

DENVER, CO--(Marketwire - February 7, 2011) -  Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of investors who purchased China MediaExpress Holdings, Inc. ("China MediaExpress" or the "Company") (NASDAQ: CCME) securities between November 8, 2010 and February 3, 2011, inclusive (the "Class Period"). 

What actions may I take at this time? If you purchased during the Class Period and wish to serve as a lead plaintiff, you must request appointment by court no later than April 5, 2011. If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact plaintiff's counsel, Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at jeff@dyerberens.com. Any member of the putative class may request a lead plaintiff appointment through counsel of its choice or may choose to do nothing and remain an absent class member. 

What are the allegations in the complaint? China MediaExpress provides television advertising network on inter-city express buses in China. The complaint alleges that, throughout the Class Period, defendant's public statements were materially false and misleading because they misrepresented and overstated the financial condition of the Company. On February 3, 2011, Muddy Waters Research initiated coverage on China MediaExpress with a strong sell rating on China MediaExpress stock. In its report, Muddy Waters questioned the accuracy of many of the Company's statements and the quality of its earnings. In response to the report, the price of China MediaExpress securities fell from $16.61/share to $11.09/share. Based upon the foregoing, the complaint charges China MediaExpress with violations of the Securities Exchange Act of 1934. 

About Dyer & Berens LLP. The plaintiff is represented by several law firms, including Dyer & Berens LLP, which has expertise in prosecuting investor class actions involving financial fraud. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. 

Contact Information

  • Contact:

    Jeffrey A. Berens
    Dyer & Berens LLP
    303 East 17th Avenue, Suite 300
    Denver, CO 80203
    Tel: (888) 300-3362 x302
    Email: Email Contact
    Website: www.DyerBerens.com