NEW YORK, April 18, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of China Unicom (Hong Kong) Limited ("China Unicom" or the "Company") (NYSE: CHU). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether China Unicom and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On April 18, 2017, media outlets reported that Chang Xiaobing, China Unicom's former chairman, admitted at trial in China that he had accepted bribes worth more than 3.76 million yuan during his 14-year tenure at the Company.
On this news, China Unicom's American Depositary Receipt price has fallen as much as $0.61, or 4.45%, during intraday trading on April 18, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
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SOURCE Pomerantz LLP