SOURCE: Rosen Law Firm P.A.

Rosen Law Firm P.A.

April 01, 2011 23:45 ET

The Rosen Law Firm Representing Investors in Securities Class Action Charging China Electric Motor, Inc. With Securities Violations -- CELM

NEW YORK, NY--(Marketwire - April 1, 2011) - The Rosen Law Firm, P.A. today announced that it has filed a class action lawsuit on behalf of investors who purchased the securities of China Electric Motor, Inc. (NASDAQ: CELM) in the period from January 29, 2010 to March 30, 2011, to recover damages for violations of federal securities laws. 

To join the China Electric Motor class action, visit the firm's website at http://rosenlegal.com, or call Laurence Rosen, Esq. or Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action. The case filed by the Rosen Law Firm is pending in the U.S. District Court for the Central District of California.

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.

The Complaint asserts violations of the federal securities laws against China Electric Motor and its officers and directors, and underwriters for issuing materially false and misleading information in the Company's public offering documents and in SEC filings about the Company's financial condition and internal controls. On March 31, 2011 the Company issued an announcement stating that it would be unable to timely issue its fiscal year 2010 financial results because of "possible discrepancies concerning the Company's banking statements that were very recently identified by the Company's auditors in the course of their audit of the consolidated financial statements for the fiscal year ended December 31, 2010." As a result, China Electric Motor stated it had begun an internal investigation.

Since March 30, 2011 trading in the Company's stock has been halted, rendering the Company's stock illiquid and damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than May 31, 2011. 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 Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com. You may also visit the firm's website at http://rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

Contact Information

  • 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 Contact
    Email Contact
    www.rosenlegal.com