Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, is investigating potential wrongdoing at China Automotive Systems Inc. (“China Automotive” or the “Company”) (Nasdaq: CAAS). Faruqi & Faruqi, LLP seeks to determine whether certain officers and directors at China Automotive violated federal securities laws in connection with statements made to the Company’s shareholders.
Request more information now by clicking here: www.faruqilaw.com/CAAS
The investigation focuses on whether certain individuals violated federal securities laws by, among other things, failing to disclose that: (1) China Automotive failed to account properly for its convertible notes issued on February 15, 2008; (2) as a result, the Company’s financial results were incorrect and not prepared in accordance with the United States Generally Accepted Accounting Principles (“U.S. GAAP”); and (3) the Company lacked sufficient internal financial controls.
On March 17, 2011, China Automotive declared that it expected to restate its financial statements for the 2009 fiscal year and three quarters of the 2010 fiscal year due to errors in accounting related to the Company’s convertible notes issued on February 15, 2008 and that these financial statements could no longer be relied on. Shares of China Automotive fell 13.88% to $8.81 per share in response to this unexpected announcement.Take Action If you purchased China Automotive securities between March 25, 2010 and March 17, 2011 and you would like to discuss your legal rights, visit www.faruqilaw.com/CAAS. You can also contact us by calling Anthony Vozzolo or Richard W. Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding China Automotive’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others. About Faruqi & Faruqi, LLP Faruqi & Faruqi, LLP is a national law firm, representing investors, consumers and companies in the prosecution of claims under state corporate and consumer laws and the federal securities and antitrust laws. The lawyers at Faruqi & Faruqi, LLP have demonstrated a clear commitment to championing the rights of shareholders and consumers nationwide.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV