SOURCE: Milberg LLP

February 25, 2011 14:17 ET

Milberg LLP Announces the Filing of a Securities Fraud Class Action Lawsuit Against China MediaExpress Holdings

NEW YORK, NY--(Marketwire - February 25, 2011) - A class action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of China MediaExpress Holdings, Inc. ("China MediaExpress") (NASDAQ: CCME) from November 8, 2010, through February 3, 2011, inclusive ("Class Period").

The complaint alleges China MediaExpress issued materially false and misleading statements regarding the financial condition of the Company and that certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On February 3, 2011, Muddy Waters Research published a detailed report questioning the accuracy of many of the Company's statements and the quality of the Company's earnings. Muddy Waters alleged, in part, that China MediaExpress "is engaging in a massive 'pump and dump' scheme." In response to the report, China MediaExpress securities declined substantially, falling from $16.61 per share to $11.09 per share on extremely heavy trading volume.

If you purchased China MediaExpress common stock during the Class Period you may, no later than April 5, 2011, file a motion with the Court to appoint you lead plaintiff. A lead plaintiff is a representative party that directs the litigation, and will be the movant that the Court determines to have the largest financial interest in the litigation with claims typical of those of other class members and the ability to adequately represent the class. Your share in any recovery will not be enhanced by serving as a lead plaintiff. You do not need to be a lead plaintiff to recover in a class action; you can recover as an absent class member. You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover as an absent class member. The complaint in this action was not filed by Milberg.

Founded in 1965, Milberg has offices in New York, Los Angeles, Tampa, and Detroit. The Firm has litigated landmark cases and recovered billions for shareholders and consumers. Our website (www.milberg.com) has additional information.

You can contact the following attorney for more information:

Contact Information

  • Andrei V. Rado, Esq.
    Milberg LLP
    One Pennsylvania Plaza, 49th Fl.
    New York, NY 10119-0165
    Phone number: (800) 320-5081
    Email: contactus@milberg.com

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