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."
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.
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.
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SOURCE Cemtrex Inc.