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China Expert Technology, Inc. Summary: According to a law firm press release, on November 21, 2007 a class action lawsuit was filed charging China Expert Technology, Inc. with violations of the federal securities laws. The Complaint alleges that the company knowingly issued materially false financial statements and other misleading statements concerning its business. During the Class Period, CXTI issued materially false and misleading statements and omitted to state material facts that rendered their affirmative statements misleading as they related to the Company’s financial performance, business prospects, and financial condition. As a result of these materially false and misleading statements, the price of the Company’s securities was artificially inflated to a Class Period high of over $8.00 per share. As the truth of the Company’s materially false and misleading statements entered the market, the Company’s stock plummeted to pennies and was even halted by the SEC.
INDUSTRY CLASSIFICATION:
SIC Code: 8742
Sector: Services
Industry:
| COMPANY/ISSUER NAME: | China Expert Technology, Inc. |
| COMPANY/ISSUER TICKER: | CXTI |
| COMPANY WEBSITE: | http://tech.chinaexpertnet.com/ |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| [Unknown Plaintiff], et al. v. China Expert Technology, Inc., et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Class Action Complaint | |||
| Type: Complaint | Date on the document: 11/21/2007 | ||
| OTHER DOCUMENTS | |||
| Case Name and/or Number: | |||
| Type: | Date on the document: | ||
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