NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired Cemtrex, Inc. (NASDAQ:CETX) securities between February 11, 2016 and February 22, 2017 (the “Class Period”). Investors have until April 25, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) over $1 million has been paid to notorious stock promoters since late 2015; (2) the entity paying for the stock promotion was owned by Cemtrex’s founder, Aron Govil, and based out of Cemtrex’s corporate headquarters; (3) senior executives engaged in undisclosed insider selling; and (4) the Company retained a foreign accounting firm with a history of fraudulent endeavors to conduct its financial audits. As a result, Defendants’ statements about Cemtrex’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis throughout the Class Period.
If you purchased or otherwise acquired Cemtrex securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Cemtrex lawsuit, please go to www.bespc.com/cetx. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.