SAN DIEGO, Dec. 14, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in California on behalf of certain purchasers of shares of TCP International Holdings Ltd (NYSE:TCPI) over alleged Securities Laws Violations by TCP International Holdings.
Investors who have losses in excess of $100,000 from their investment between May 8, 2015 and November 5, 2015 in shares of TCP International Holdings Ltd (NYSE:TCPI) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that Defendants made false and/or misleading statements and/or failed to disclose that TCP International Holdings’ Chairman, defendant Ellis Yan, had made improper payments with his personal funds relating to TCP International Holdings’ business, that improper relationships existed between Ellis Yan and the Company's Vice-Chairman, Zhaoling Yan, and certain vendors, and that as a result of the foregoing, Defendants' statements about TCP International Holdings’ business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On November 5, 2015, TCP International Holdings Ltd announced that it will delay the release of its third quarter financial results due to a pending Audit Committee investigation concerning the scope and propriety of payments made by its Chairman with his personal funds relating to TCP International Holdings’ business, and whether relationships exist between Ellis Yan and Zhaoling Yan and certain vendors. TCP International Holdings also announced that it does not anticipate filing its third quarter Form 10-Q by the extended due date of November 23, 2015.
Those who have losses in excess of $100,000 from their investment in NYSE:TCPI shares between May 8, 2015 and November 5, 2015 should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.