Kirby McInerney LLP Advises Pingtan Marine Enterprise Ltd. Investors of Potential Claims
June 26 2017 - 5:40PM
Business Wire
The law firm of Kirby McInerney LLP announced today that a class
action lawsuit has been filed in the United States District Court
for the Eastern District of New York against Pingtan Marine
Enterprise Ltd. (“Pingtan Marine Enterprise” or the “Company”)
(NASDAQ:PME) on behalf of investors that acquired Pingtan Marine
Enterprise securities during the period from August 8, 2016 through
May 10, 2017 (the “Class Period”) seeking recovery of damages for
alleged violations of the federal securities laws. Pursuant to
applicable law, investors have until August 22, 2017 to apply to
the Court to be appointed as lead plaintiff in the lawsuit.
Pingtan Marine Enterprise engages in the ocean fishing
business.
The lawsuit alleges that on May 10, 2017, Aurelius Value, a
company specializing in research into publicly traded companies,
published a report asserting, among other things, that the Company
is specifically banned from doing business in Indonesia, and the
Company financed widespread illegal activity with investor
capital.
On this news, shares of Pingtan Marine Enterprise fell from
$4.11 to close at $2.95 per share on May 10, 2017 (a decline of
$1.16).
If you acquired Pingtan Marine Enterprise securities during the
Class Period and are interested in learning more about this matter
and any rights you might have with respect to these claims, please
contact Chloe Chung at cchung@kmllp.com, or by telephone at (212)
371-6600. You can also find information about this matter on the
firm’s website at www.kmllp.com. Please bear in mind that some of
these rights may be time-sensitive.
Kirby McInerney LLP is a New York-based plaintiffs' law firm
concentrating in securities, whistleblower, antitrust and consumer
litigation. The firm has specialized in complex litigation,
including securities class actions, for several decades, and has
been recognized by various courts that have appointed the firm to
major positions in consolidated and multi-district litigation.
Kirby McInerney’s efforts on behalf of shareholders have resulted
in recoveries totaling billions of dollars, and the firm's
achievements and quality of service have been chronicled in
numerous published decisions. Additional information about the firm
or the claims against Pingtan Marine Enterprise Ltd. can be found
at Kirby McInerney LLP's website: www.kmllp.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170626006244/en/
Kirby McInerney LLPChloe Chung, (212)
371-6600cchung@kmllp.com
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