Law Offices of Howard G. Smith announces that it is investigating potential claims against Telestone Technologies Corporation (“Telestone” or the “Company”) (NASDAQ:TSTC) concerning possible violations of federal securities laws or breaches of fiduciary duties by the Company or its fiduciaries. Telestone is a Beijing-based provider of access network solutions, primarily in the People’s Republic of China. The Company also designs and sells electronic equipment including WFDS products, RFPA products, passive components, repeaters, radio frequency peripherals, and base station antennas used to provide access network solutions for 2G, 3G, broadband access and CATV networks.
The investigation concerns allegations that certain statements issued by the Company between January 2005 and the present concerning Telestone’s business, prospects and financial performance were materially false and/or misleading. Telestone’s annual report for its 2009 fiscal year, filed March 31, 2010, with the U.S. Securities and Exchange Commission, disclosed that as of December 31, 2009, the Company’s disclosure controls and procedures were “not effective” due to certain “control weaknesses and control deficiencies in our internal control over financial reporting.”
If you are shareholder of Telestone, and still hold those shares, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
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