BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith, representing investors of China MediaExpress Holdings, Inc. (“China MediaExpress” or the “Company”) (NASDAQ:CCME), has filed a class action lawsuit in United States District Court on behalf of a class (the “Class”) consisting of all persons or entities who purchased the securities of China MediaExpress between November 8, 2010 and February 3, 2011, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of New York.
China MediaExpress purports to operate the largest television advertising network on inter-city and airport express buses in China. The Complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company misrepresented the number of buses in its advertising network; (2) the Company misrepresented the nature and extent of its business relationships; (3) as a result, that the Company’s financial results were overstated during the Class Period; and (4), as a result of the above, that the Company’s statements concerning China MediaExpress’ business, operations and prospects were materially false and misleading at all relevant times.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased China MediaExpress securities between November 8, 2010 and February 3, 2011, you have certain rights and have until April 5, 2011, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to howardsmith@howardsmithlaw.com or visit our website at http://www.howardsmithlaw.com.