Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that the firms are investigating legal claims against the officers and Board of Directors of CNinsure, Inc. (“CNinsure” or “CISG”) (NASDAQ: CISG) related to potentially misleading statements issued by CNinsure between March 2, 2010 and September 14, 2011 (the “Class Period”).
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
It has been alleged that during the Class Period, CISG and certain of its officers and directors made materially false and misleading statements or failed to disclose material information related to the company’s business and operations in violation of the Securities Exchange Act of 1934. Specifically, it is claimed that CISG and the other defendants misrepresented and/or failed to disclose the following adverse facts: (i) that CNinsure was materially overstating its net income by understating the costs associated with the company’s scorecard system; (ii) that CNinsure failed to account for incentives provided to the company’s agents as costs since those incentives were reasonably likely to be tendered at a future date; and (iii) that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about CNinsure and its prospects. As a result of defendants’ alleged false statements, it is claimed that CNinsure’s stock traded at artificially inflated prices during the Class Period.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.