Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased China Zenix Auto International Limited (China Zenix or the Company) (OTC: ZXAIY) securities between October 2, 2015 and June 14, 2018, inclusive (the Class Period). China Zenix investors have until December 31, 2018 to file a lead plaintiff motion.
Investors suffering losses on their China Zenix investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
On June 15, 2018, China Zenix disclosed that the New York Stock Exchange had made the decision to delist the Companys shares from its exchange, effective June 14, 2018. On this news, shares of China Zenix fell $0.58, or 42.03%, to close at $0.80 per share when trading resumed on June 18, 2018, thereby injuring investors.
The complaint filed in this class action alleges that during the class period, Defendants made 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.
If you purchased shares of China Zenix, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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