NEW YORK, July 17, 2013 /PRNewswire/ -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC announces that a securities class action has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased shares of Subaye, Inc. ("Subaye or the Company") (OTC: SBAY), during the period between December 29, 2009 and April 7, 2011, inclusive (the "Class Period").
The Complaint alleges that DNTW Chartered Accountants, LLP ("DNTW"), Subaye's auditor, falsely issued clean audit reports for Subaye's 2009 and 2010 10-Ks that stated that DNTW conducted its audits of Subaye in accordance with PCAOB standards. The SEC filed a civil action against Subaye and others in May of 2013 for fraud, saying that the Company misled investors about its financial prospects and revenue.
Plaintiff seeks to recover damages on behalf of all Subaye shareholders who purchased common stock during the Class Period described above.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. September 3, 2013 is the deadline for investors to seek a lead plaintiff appointment. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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 or Eitan Kimelman 212-697-6484
SOURCE Bronstein, Gewirtz & Grossman, LLC