SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of China XD Plastics Company Ltd. - CXDC
NEW YORK, July 10, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of China XD Plastics Company Ltd. ("China XD" or the "Company") (NASDAQ: CXDC). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether China XD and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 10, 2014, a report published by the seekingalpha.com website stated that, "revenue reported to the SEC is higher than what is reported in the SAIC filings, which is definitely a red flag. More concerning is the sizable discrepancy between net income reported in SEC filings and what was reported in SAIC filings."
On this news, shares of China XD fell $1.17 per share to $6.48, or more than 15.29%, in intraday trading on July 10, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego 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.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
SOURCE Pomerantz LLP
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