| Company: | China Expert Technology, Inc. |
| Ticker Symbol: | NASD: CXTI |
| Class Period: | November 14, 2006 to October 1, 2007 |
| Date Filed: | Nov-21-07 |
| Lead Plaintiff Deadline: | Jan-21-08 |
| Court: | Southern District, NY |
| Allegations: |
A class action lawsuit has been filed on behalf of all purchasers of China Expert Technology, Inc. ("CXTI" or the "Company") (PINKSHEETS: CXTI | charts | news | PowerRating) (formerly OTCBB: CXTI) stock from November 14, 2006 through October 1, 2007, inclusive (the "Class Period").
The case is pending in the United States District Court for the Southern District of New York as case no. 07-cv-10531. The complaint charges CXTI and certain of its present and former officers and directors with violations of Sections 10(a) and 20(a) of the Securities Exchange Act of 1934. According to the complaint, during the Class Period the Company issued materially false and misleading statements pertaining to its financial results, condition, and business prospects.
The complaint asserts that on July 19, 2007 the Company's CFO suddenly resigned. Thereafter, on August 14, 2007 CXTI announced that it had obtained a five-day extension with the SEC to file its quarterly report on Form 10-Q. During this period of time, numerous articles were published by media outlets calling into question the veracity CXTI's disclosures. On October 1st, following the resignation of the Company's auditor, the SEC temporarily halted trading of CXTI's stock. As a result of these adverse disclosures, investors were damaged.
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.
The case is pending in the United States District Court for the Southern District of New York as case no. 07-cv-10531. The complaint charges CXTI and certain of its present and former officers and directors with violations of Sections 10(a) and 20(a) of the Securities Exchange Act of 1934. According to the complaint, during the Class Period the Company issued materially false and misleading statements pertaining to its financial results, condition, and business prospects.
The complaint asserts that on July 19, 2007 the Company's CFO suddenly resigned. Thereafter, on August 14, 2007 CXTI announced that it had obtained a five-day extension with the SEC to file its quarterly report on Form 10-Q. During this period of time, numerous articles were published by media outlets calling into question the veracity CXTI's disclosures. On October 1st, following the resignation of the Company's auditor, the SEC temporarily halted trading of CXTI's stock. As a result of these adverse disclosures, investors were damaged.
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.
