Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Nam Tai Electronics, Inc.
NEW YORK, April 30, 2013 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Nam Tai Electronics, Inc. ("Nam Tai" or the "Company") (NYSE: NTE -News). The investigation focuses on whether the Company and its executives violated federal securities laws.
On April 29, 2013, shares of Nam Tai fell $3.58 or 31.6% to close at $7.75 after the company announced that due to a weak consumer market, customer orders for some of liquid crystal display modules ("LCM") were much lower than originally anticipated. The company noted that it relies on a very small number of customers Nam Tai also lowered its prices to meet customer needs and also suspects that other orders could be canceled. In response to these adverse market conditions, the management has made efforts to minimize potential losses resulting from cancellation and fluctuation of orders by its customers and decided to halt capital investment into technology platforms that cannot produce steady income streams. The Company may also have to halt its best quality LCM production operations service in both its Shenzhen and Wuxi manufacturing facilities by the end of June 2013 in order to minimize further losses and preserve cash. These operations make up the core of the Company's existing businesses.
If you are aware of any facts relating to this investigation, or purchased shares of Nam Tai, you can assist this investigation by contacting Peretz Bronstein of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein 212-697-6484
SOURCE Bronstein, Gewirtz & Grossman, LLC
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