| Company: | China Electric Motor Inc, |
| Ticker Symbol: | CELM |
| Class Period: | Jan-29-10 to Mar-30-11 |
| Date Filed: | Apr-5-11 |
| Lead Plaintiff Deadline: | Jun-4-11 |
| Court: | Central District of California |
| Allegations: | |
China Electric Motor engages in the design, manufacture, sale and marketing of micro-motors and micro-motor components in the People's Republic of China and internationally. The Complaint alleges that during the Class Period the Company violated federal securities laws by issuing material misrepresentations to the market concerning China Electric Motor's operations and financial condition, thereby artificially inflating the price of the Company's securities.
On March 31, 2011, the Company announced it would be unable to timely issue its fiscal year 2010 financial results due to "possible discrepancies concerning the Company's banking statements that were very recently identified by the Company's auditors in the course of their audit of the consolidated financial statements for the fiscal year ended December 31, 2010."
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
