FARMINGDALE, N.Y., Feb. 27, 2017 /PRNewswire/ -- Cemtrex,
Inc. (NasdaqCM: CETX) announced today that it has retained
the law firm of Olshan Frome Wolosky LLP, New York, New York, to help investigate
allegations of manipulative short selling of Cemtrex's stock and
malicious publishing of false and misleading information by short
sellers, and to assist the company in rooting out and holding
accountable those responsible for these illegal actions.
Olshan Frome Wolosky is a nationally-recognized corporate and
litigation law firm which has represented numerous publicly-traded
companies in their fights against illegal short selling and other
fraudulent activities intended to manipulate share prices.
"We have an obligation to our shareholders to take proactive
measures to ensure that our shares are traded efficiently and with
integrity," said Cemtrex's Chairman and Chief Executive Officer
Saagar Govil. "To that end, we have retained Olshan Frome
Wolosky LLP. Thomas J. Fleming and the Olshan Frome team will
provide us the best possible remedy against the short sellers we
believe may have been manipulating our share price and
manufacturing a false narrative about our company."
About Cemtrex
Cemtrex, Inc. (CETX) is a global, diversified industrial and
manufacturing company that provides a wide array of solutions to
meet today's technology challenges and is rapidly growing through
acquisitions. Cemtrex provides manufacturing services of
advanced custom engineered electronics, industrial contracting
services, monitoring instruments for industrial processes and
environmental compliance, and equipment for controlling
particulates, hazardous pollutants and Greenhouse gases used in
carbon trading globally. For more information, please visit
www.cemtrex.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements include all statements other than
statements of historical fact. These forward-looking statements are
inherently difficult to predict. Actual results, including
all matters relating to the engagement of counsel and potential
legal proceedings involving the above investigation, could differ
materially for a variety of reasons. Our filings with the SEC
identify important factors that could cause our actual results to
differ materially from those contained in our forward-looking
statements.
Investor Contacts:
Investor Relations
Cemtrex, Inc.
Tel.: (631) 756-9116
investors@cemtrex.com
Andrew Haag
Managing Partner
IRTH Communications
148225@email4pr.com
Tel.: (866) 976-4784
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SOURCE Cemtrex Inc.