INVESTOR ALERT - Andrews & Springer LLC Is Investigating China XD Plastics Company Ltd. For Possible Violations of Securities Laws - CXDC
WILMINGTON, Del.--(BUSINESS WIRE)--Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential securities fraud claims against China XD Plastics Company Ltd. (“China XD” or the “Company”)(NASDAQ: CXDC).
China XD is a specialty chemical company that creates plastics used in the automotive industry. On July 10, 2014, equity research firm Bleecker Street Research published an article asserting that the Company’s reported income to Chinese authorities was much smaller than the income reported to the U.S. Securities and Exchange Commission (the “SEC”) for the period of 2008-2010. The report also discloses that China XD’s CFO, Taylor Zhang, was formerly the CFO of Advanced Battery Technologies, a now defunct company. Mr. Zhang was also an Executive Vice President of China Natural Gas, a Chinese company accused of fraud by the SEC. As a result of this news, the Company’s share price has fallen more than 15% so far today on heavy volume. Yesterday, the Company closed at $7.65 per share. The Bleecker Street report can be found here: http://seekingalpha.com/article/2307195-china-xd-plastics-when-the-numbers-dont-add-up-theres-over-80-percent-downside
Given this information, Andrews & Springer LLC is preparing a class action lawsuit as a result. If you own shares of China XD and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/cxdc or contact Craig J. Springer, Esq. at firstname.lastname@example.org, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook – www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.