Ryan & Maniskas, LLP Announces Class Action Lawsuit Against China MediaExpress Holdings, Inc.

WAYNE, Pa.--(BUSINESS WIRE)--Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/ccme) announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors who purchased China MediaExpress Holdings, Inc. (“CCME” or the “Company”) (NASDAQ:CCME) common stock between the period of November 8, 2010 through February 3, 2011, inclusive (the "Class Period").

For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at [phone] or by email at [e-mail] or visit: www.rmclasslaw.com/cases/ccme.

The Complaint alleges that CCME and certain of its officers and directors violated the federal securities laws by failing to disclose the following material information: (1) the Company misrepresented the number of buses in its advertising network; (2) the Company misrepresented the nature and extent of its business relationships; and (3) as such, the Company’s financial results were overstated at all relevant times.

On January 31, 2011, Citron Research published a report that stated that CCME misrepresented the scope of the Company’s operations, its financial performance, and the extent of the Company’s claimed strategic partnership with a government-affiliated entity. The Citron Research report concluded that the Company “does not exist at the scale that they are reporting to the investing public.” Then on February 3, 2011 the firm Muddy Waters disclosed that the Company “significantly inflated its revenue and earnings in order to pay management earn-outs and inflate the stock price so insiders can sell.” On this news, shares of CCME common stock fell $5.52 per share to close on February 3, 2011 at $11.09 per share, representing a drop of more than 33%.

If you are a member of the class, you may, no later than April 5, 2011, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.

For more information about the case or to participate online, please visit: www.rmclasslaw.com/cases/ccme or contact Richard A. Maniskas, Esquire toll-free at [phone], or by e-mail at [e-mail]. For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.