NEW YORK, March 04, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of China Techfaith Wireless Communication Technology Limited ( CNTF) from July 12, 2018 through December 19, 2018, inclusive (the “Class Period”). The firm reminds investors of the March 11, 2019 lead plaintiff deadline.
A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go http://zhanginvestorlaw.com/join-action-form/?slug=china-techfaith-wireless-communication-technology-limited&id=1741 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email [email protected], [email protected], for information on the class action.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) China Techfaith’s agreement to sell its wholly-owned subsidiary would not be as lucrative as it led investors to believe; (2) China Techfaith failed to adequately disclose that changing market conditions would negatively impact profitability; and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.
Zhang Investor Law P.C.
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New York, New York 10005
[email protected]
tel: (800) 991-3756
