This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Faruqi & Faruqi, LLP Announces Investigation Of China Automotive Systems Inc.

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:

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 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 or 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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs