Levi & Korsinsky, LLP Launches an Investigation into Potential Securities Fraud Claims against China Media Express Holdings, Inc. in Connection with its Issuance of Potentially Materially Inaccurate Financial Statements - (CCME)

NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky, LLP is investigating potential securities fraud claims against China Media Express Holdings, Inc. (“China Media Express” or the “Company”) (Nasdaq: CCME) resulting from allegations that the Company may have issued materially inaccurate financial statements to the investing public between March 31, 2009 and January 31, 2011. On January 31, 2011, analyst firm Citron Research issued a report alleging that China Media Express misrepresented its financial performance, business prospects, and financial condition to investors.

On February 3, 2011, analyst firm Muddy Waters issued a report echoing Citron Research's allegations of fraud. Citing a number of sources, the reports assert that the Company's revenues were substantially overstated and that the Company exaggerated the extent of its business operations. These disclosures of potential fraud concerning China Media Express caused the stock price to drop precipitously, damaging investors.

Levi & Korsinsky, LLP is investigating a securities class action lawsuit on behalf of China Media Express investors. If you purchased China Media Express stock between March 31, 2009 and January 31, 2011, and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [e-mail] or by telephone at [phone], toll-free: [phone], or visit http://www.zlk.com/china-media-ccme.html.

Levi & Korsinsky, LLP represents investors in shareholder’s rights claims, concentrating its practice in securities class actions. Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below.