NEW YORK, July 24, 2015 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired American Depositary Shares of China Finance Online Co., Ltd. ("China Finance Online") (NASDAQGS: JRJC) between May 6, 2014 and June 3, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Central District of California. If you purchased or otherwise acquired China Finance Online ADSs between May 6, 2014 and June 3, 2015, your rights may be affected by this action. To get more information go to: http://zlk.9nl.com/china-finance-online-jrjc or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the Class Period defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) China Finance Online's Chairman of the Board and Chief Executive Officer Zhiwei Zhao had an indirect equity interest in Langfang Developer at the time of the Company's investment; (b) Zhiwei Zhao suddenly resigned from his positions at three key Chinese Variable Interest Entities of China Finance Online; and (c) as a result of the foregoing, China Finance Online's public statements were materially false and misleading at all relevant times.
If you suffered a loss in China Finance Online you have until August 4, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
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Tel: (212) 363-7500
Toll Free: (877) 363-5972
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SOURCE Levi & Korsinsky, LLP