NEW YORK, Dec. 12, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against China Zenix Auto International Ltd. (“China Zenix” or the “Company”) (OTCMKT: ZXAIY) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired China Zenix securities between October 2, 2015 and June 14, 2018, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/zxaiy.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) China Zenix’s trading actions in connection with its compliance with the NYSE Continued Listed Requirements were contrary to public policy; (2) China Zenix had inadequate internal controls over financial reporting; and (3) as a result of the foregoing, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On June 14, 2018, the New York Stock Exchange (“NYSE”) suspended trading in China Zenix securities and commenced delisting proceedings. The NYSE issued a press release stating, in part, that “[t]he determination to delist the Company was based on an investigation conducted by NYSE Regulation that brought to light the existence of evens that made further dealings or listing of the securities on the [NYSE] contrary to the public interest and not in keeping with sound public policy, pursuant to Section 802.01D of the Listed Company Manual.” When trading resumed on June 18, 2018, China Zenix’s stock price fell $0.58, or 42.03%, to close at $0.80 per share.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: bgandg.com/zxaiy or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in China Zenix you have until December 31, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com