BENSALEM, Penn.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased ChinaCache International Holdings Ltd. ("ChinaCache" or the "Company") (NASDAQ:CCIH) between April 11, 2015 and August 20, 2015, inclusive (the “Class Period”). ChinaCache investors have until December 8, 2015 to file a lead plaintiff motion. Investors who suffered losses on their investment in ChinaCache securities are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action.
ChinaCache provides services and hardware to telecom and internet providers in China. The Company is purportedly a partner of choice for businesses, government agencies and other enterprises to enhance the reliability and scalability of online services and applications and improve end-user experience.
The Complaint alleges that throughout the Class Period, the Company issued false and misleading statements to investors concerning ChinaCache’s financial performances in light of a platform migration that caused a severe setback in the Company’s revenues. On August 20, 2015, the Company announced disappointing second quarter 2015 financial results. The Company disclosed that “platform issues” impacted the Company’s top-line, but assured investors that the Company would “work very hard to achieve meaningful improvements.” On this news, the Company’s stock fell $2.92, or almost 35%, to close at $5.59 on August 21, 2015 thereby injuring investors.
If you purchased ChinaCache securities, if you wish to learn more about this action, or if you have any questions concerning this announcement 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, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.