NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Celadon Group, Inc. (NYSE: CGI) resulting from allegations that Celadon Group may have issued materially misleading business information to the investing public.
On April 5, 2017, Prescience Point Research Group published a report asserting that “CGI has used off-balance sheet entities…and manipulative accounting practices to hide its insolvent condition from investors and creditors.” On this news, shares of Celadon Group fell $0.85 per share or approximately 14% on April 5, 2017. On May 2, 2017, Celadon Group revealed that its previously issued financial statements for the fiscal year ended June 30, 2016 and quarters ended September 30 and December 31, 2016 cannot be relied on. On this news, shares of Celadon Group fell sharply during intraday trading on May 2, 2017.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Celadon Group investors. If you purchased shares of Celadon Group on or before May 1, 2017, please visit the firm’s website at http://www.rosenlegal.com/cases-1113.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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