An investigation for investors in ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ: CCIH) shares over potential securities laws violations by ChinaCache Internatnl Hldgs Ltd was announced.
San Diego, CA -- (SBWIRE) -- 06/11/2019 -- ChinaCache Internatnl Hldgs Ltd is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ: CCIH), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by ChinaCache Internatnl Hldgs Ltd regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On April 29, 2019, ChinaCache Internatnl Hldgs Ltd filed a Form NT 20-F with the U.S. Securities and Exchange Commission ("SEC") announcing that it would not be able to timely file its annual report for the fiscal year 2018.
On May 17, 2019, ChinaCache Internatnl Hldgs Ltd e disclosed that ChinaCache Internatnl Hldgs Ltd and its Chief Executive Officer ("CEO") and Chairman of the Board of Directors ("Chairman"), Song Wang ("Wang"), were under criminal investigation for allegations of enterprise bribery by a government prosecutors' office in Beijing. Wang resigned as CEO and Chairman. Further, on May 17, 2019, NASDAQ halted trading in ChinaCache securities.
Then, on May 23, 2019, ChinaCache Internatnl Hldgs Ltd revealed that it received a NASDAQ Notification Letter on May 20, 2019 because the Company was not in compliance with NASDAQ listing requirements as it failed to file timely its annual report on Form 20-F for the fiscal year 2018 (the "NASDAQ Letter"). The NASDAQ Letter also contained inquires to ChinaCache regarding the resignation of its auditor, Grant Thornton China, ChinaCache's engagement of its new independent auditor, and the allegations of enterprise bribery by ChinaCache and Wang. Trading in ChinaCache securities remains halted, accordingly ChinaCache securities are illiquid and effectively worthless.
Those who purchased shares of ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ: CCIH) have certain options and should contact the Shareholders Foundation.
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