Rosen Law Firm Reminds Investors of Important Lead Plaintiff Deadline in SinoTech Energy Limited Class Action -- CTE
September 03 2011 - 6:57PM
The Rosen Law Firm, P.A. reminds investors of the important October
18, 2011 lead plaintiff deadline in the securities class action
filed by the firm. If you purchased the securities of SinoTech
Energy Limited ("SinoTech Energy") (Nasdaq:CTE) during the period
from November 3, 2010 through and including August 16, 2011, you
should contact the Rosen Law Firm for more information about the
importance of serving as lead plaintiff.
To join the SinoTech Energy class action, visit the firm's
website at http://rosenlegal.com, or call Phillip Kim, Esq.,
toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com
for information on the class action.
The Complaint asserts violations of the federal securities laws
against SinoTech Energy, its officers and directors, and
underwriters for issuing materially inaccurate information about
the Company's financial performance. On August 16, 2011, a
report was issued by the Alfred Little website demonstrating that
the Company's business was smaller than it had represented to
investors in its SEC filings. Namely, that (a) SinoTech
Energy's five largest subcontracting customers appear to be shell
companies with unverifiable operations and minimal revenues; (b)
SinoTech Energy's sole chemical supplier appears to be an
empty shell, with little or no revenues, a deserted office and no
signs of production activity; (c) SinoTech's audited financial
statements filed with Chinese authorities confirm the Company's
negligible business operations; and (d) other facts showing that
Company's business operations are smaller than it represents in SEC
filings. Later on August 16, 2011, NASDAQ halted trading in
the Company's stock, pending further information requested by the
exchange. The Complaint alleges that as a result of these
adverse disclosures, investors have been damaged.
If you wish to serve as lead plaintiff, you must move the Court
no later than October 18, 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 Phillip Kim, Esq. of The Rosen Law Firm, toll-free,
at 866-767-3653, or via e-mail at 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.
Attorney Advertising. Prior results do not guarantee a
similar outcome.
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
lrosen@rosenlegal.com
pkim@rosenlegal.com
www.rosenlegal.com
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