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The Rosen Law Firm, P.A. announces that it is investigating potential securities claims against China Electric Motor, Inc. (NASDAQ: CELM) (“China Electric Motor” or the “Company”) resulting from allegations that the may have Company issued materially false financial statements and information to investors.
On March 31, 2011 the Company issued an announcement stating that it would be unable to timely issue its fiscal year 2010 financial results because of “possible discrepancies concerning the Company’s banking statements that were very recently identified by the Company’s auditors in the course of their audit of the consolidated financial statements for the fiscal year ended December 31, 2010.” As a result, China Electric Motor stated it had begun an internal investigation.
The Rosen Law Firm is preparing a securities class action lawsuit on behalf of China Electric Motor investors to recover investment losses. If you purchased or acquired China Electric Motor securities at any time prior to March 31, 2011, please visit the website at
http://rosenlegal.com for more information. You may also contact Phillip Kim, Esq. or Jonathan Horne, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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