SOURCE: Sarraf Gentile LLP

December 06, 2010 19:01 ET

Sarraf Gentile LLP Announces Class Action Filed Against China Education Alliance, Inc.

NEW YORK, NY--(Marketwire - December 6, 2010) - A class action lawsuit has been filed in the United States District Court for the Central District of California against China Education Alliance, Inc. (NYSE: CEU). The action is brought on behalf of all people who purchased China Education Alliance common stock between March 31, 2009 and November 29, 2010, inclusive.

The complaint alleges violations of the Securities Exchange Act of 1934 against China Education Alliance and certain of its officers and directors for misrepresenting the company's financial performance. The complaint alleges that contrary to the company's annual reports filed with the SEC for fiscal 2008, which reported $24.9 million of revenue, an annual report for the company's main operating subsidiary filed with the Chinese authorities reported less than a million of revenue for 2008. When this adverse information was released to the market on November 29, 2010, the price of China Education Alliance stock fell, damaging investors.

No class has yet been certified in the action. Until a class is certified, you are not represented by counsel unless you retain one. Sarraf Gentile LLP has not filed a lawsuit against the defendants.

If you are a China Education Alliance shareholder and want to discuss your legal rights, at no cost and without obligation, please contact Joseph Gentile at Sarraf Gentile LLP (telephone: 212-868-3610; e-mail: joseph@sarrafgentile.com).

Sarraf Gentile LLP has extensive experience litigating shareholder actions across the United States and has recovered millions of dollars on behalf of injured shareholders.

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Contact Information

  • Contact:

    Joseph Gentile, Esq.
    SARRAF GENTILE LLP
    116 John Street, Suite 2310
    New York, NY 10038
    T 212.868.3610
    F 212.918.7967
    www.sarrafgentile.com