LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Cemtrex, Inc. (“Cemtrex” or the “Company”) (Nasdaq: CETX) concerning possible violations of federal securities laws between February 11, 2016 and February 22, 2017 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the April 25, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, Cemtrex made materially false and/or misleading statements and/or failed to disclose: that over $1 million has been paid to notorious stock promoters since late 2015; that the entity paying for the stock promotion was owned by the Company’s founder, Aron Govil, and based out of the Company’s corporate headquarters; that senior executives engaged in undisclosed insider selling; that Cemtrex retained a foreign accounting firm with a history of fraud to conduct its financial audits; and that as a result of the above, the Company’s statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When this new was announced, the stock price of Cemtrex declined.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
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