BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the August 22, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Pingtan Marine Enterprise Ltd. (“Pingtan” or the “Company”) (NASDAQ: PME) securities between August 8, 2016 through May 10, 2017, inclusive (the “Class Period”). Pingtan investors have until August 22, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Pingtan investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On May 10, 2017, Aurelius Value published a report stating, in addition to other matters, that Pingtan is specifically banned from Indonesia and Pingtan used investor capital to finance widespread illegal activity.
On this news, shares of Pingtan fell $1.16 per share or over 28% to close at $2.95 per share on May 10, 2017, damaging investors.
According to the Complaint filed in this class action, throughout the Class Period, Pingtan made false and/or misleading statements and/or failed to disclose that: (1) Pingtan is banned from Indonesia; (2) Pingtan has used investor capital to finance illegal activity; and (3) as a result, Pingtan’s public statements were materially false and misleading at all relevant times.
If you purchased shares of Pingtan during the Class Period you may move the Court no later than August 22, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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