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 China Auto Logistics Inc. (NASDAQ: CALI) resulting from allegations that China Auto may have issued materially misleading business information to the investing public.
On April 2, 2018, China Auto reported that it was unable to timely file its Annual Report on Form 10-K for the period ended December 31, 2017 because it needed extra time to “identify certain related party transactions and the impact of such transactions for the preparation of the financial statements for the Form 10-K.” The company also identified a material weakness in its internal controls over “identifying and reporting certain relationships and related transactions.” On this news, shares of China Auto fell $0.66 or over 19% to close at $2.79 on April 2, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by China Auto investors. If you purchased shares of China Auto please visit the firm’s website at http://www.rosenlegal.com/cases-1350.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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