IRVINE, Calif., Aug. 21, 2017 (GLOBE NEWSWIRE) -- Khang & Khang LLP (the “Firm”) announces a securities class action lawsuit against Pingtan Marine Enterprise Ltd. (“Pingtan” or the “Company”) (Nasdaq:PME). Investors who purchased or otherwise acquired Pingtan shares from August 8, 2016 through May 10, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm by the August 22, 2017 lead plaintiff motion deadline.
If you purchased Pingtan shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 4000 Barranca Parkway, Suite 250, Irvine, CA 92604, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.
According to the Complaint, during the Class Period, Pingtan made false and/or misleading statements and/or failed to disclose that: Pingtan is banned from Indonesia; that the Company has used investor capital to finance illegal activity; and that as a result, Pingtan’s public statements were materially false and misleading at all relevant times. On May 10, 2017, Aurelius Value published a report which alleged that the Company is specifically banned from Indonesia and that it used investor capital to finance widespread illegal activity. When this information reached the public, Pingtan’s stock price lowered materially, which caused investors harm according to the Complaint.
If you want to learn more about this lawsuit, or if you have questions about this notice or your rights, please contact Joon M. Khang, a prominent litigator for nearly two decades, by telephone at (949) 419-3834, or by e-mail at joon@khanglaw.com.
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