NEW YORK, June 12, 2019 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of investors of ChinaCache International Holdings Ltd. (NASDAQ: CCIH) resulting from allegations that ChinaCache may have issued materially misleading business information to the investing public.
On April 29, 2019, ChinaCache filed a Form NT 20-F with the U.S. Securities and Exchange Commission ("SEC") announcing that it would not be able to timely file its annual report for the fiscal year 2018. On May 17, 2019, ChinaCache disclosed that ChinaCache and its Chief Executive Officer ("CEO") and Chairman of the Board of Directors ("Chairman"), Song Wang ("Wang"), were under criminal investigation for allegations of enterprise bribery by a government prosecutors' office in Beijing. Wang resigned as CEO and Chairman. Further, on May 17, 2019, NASDAQ halted trading in ChinaCache securities.
Then, on May 23, 2019, ChinaCache revealed that it received a NASDAQ Notification Letter on May 20, 2019 because the Company was not in compliance with NASDAQ listing requirements as it failed to file timely its annual report on Form 20-F for the fiscal year 2018 (the "NASDAQ Letter"). The NASDAQ Letter also contained inquires to ChinaCache regarding the resignation of its auditor, Grant Thornton China, ChinaCache's engagement of its new independent auditor, and the allegations of enterprise bribery by ChinaCache and Wang. Trading in ChinaCache securities remains halted, accordingly ChinaCache securities are illiquid and effectively worthless.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by ChinaCache investors. If you purchased shares of ChinaCache, please visit the firm's website at https://www.rosenlegal.com/cases-register-1585.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
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SOURCE Rosen Law Firm, P.A.