WILMINGTON, Del., Oct. 21, 2015 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of ChinaCache International Holdings Ltd. (NASDAQ: CCIH)?
- Did you purchase your shares between April 11, 2015 and August 20, 2015?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities that purchased the common stock of ChinaCache International Holdings Ltd. ("ChinaCache" or the "Company") (NASDAQ: CCIH) between April 11, 2015 and August 20, 2015, inclusive (the "Class Period"), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the "Complaint").
The Complaint alleges that throughout the Class Period, defendants issued materially false and misleading public statements, and/or failed to disclose material information concerning problems with the Company's migration to its High Performance Cloud Cache ("HPCC") platform, and that these migration problems had adversely affected ChinaCache's financial performance. As a result of defendants' alleged false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period. According to the Complaint, on August 20, 2015, the Company announced second quarter 2015 financial results that fell short of market expectations due to issues with the HPCC platform. On this news, the price of the Company's common stock fell from fell $2.92 per share, or over 34%, from its previous closing price, to close at $5.59 per share on August 21, 2015.
If you wish to serve as lead plaintiff, you must move the Court no later than December 8, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice. One of the key factors in selecting the lead plaintiff is the size of the loss. The larger the size of your economic loss, the greater the likelihood that you may be appointed to serve as lead plaintiff. Alternatively, you may choose to do nothing and remain an absent class member.
If you purchased shares of ChinaCache during the Class Period, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail at [email protected]; or at: http://rigrodskylong.com/investigations/chinacache-international-ccih.
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SOURCE Rigrodsky & Long, P.A.