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Stanford Law School


China MediaExpress Holdings, Inc.
Summary: According to a press release dated February 04, 2011, the complaint alleges that, throughout the Class Period, defendant failed to disclose material adverse facts about the Company’s true financial condition, business and prospects. Specifically, the complaint alleges that defendant’s statements were materially false and misleading because they misrepresented and overstated the financial condition of the Company.

On February 3, 2011, Muddy Waters Research initiated coverage on China MediaExpress with a strong sell rating on China MediaExpress stock. In its report, Muddy Waters questioned the accuracy of many of the Company’s statements and the quality of the Company’s earnings.

In response to the report, the price of China MediaExpress securities declined substantially, falling from $16.61 per share to $11.09 per share on extremely heavy trading volume.

On April 4, 2011, the Court ordered that two cases be consolidated under the lower number case, 11 Civ. 0804.

On April 15, 2011, Judge Victor Marrero directed the Clerk of Court to consolidate the three cases under a single consolidated action, 11 Civ. 0804.

According to the Order signed by Judge Victor Marrero on June 7, 2011, class members, Irrevocable Trust FBO Lansing Davis under agreement dated 10/1/1979 and the Davis Partnership LP (collectively the "Davis Entities"), are appointed to serve as Lead Plaintiffs. Class members, John and Jennifer Houghton, Ethan Lamar Pierce and Susan Shaffer (collectively the "CME Investor Group) are appointed as additional interim representative plaintiffs. The law firm Hagens Berman Sobol Shapiro LLP is appointed Lead Counsel for the Davis Entities in the action. The law firm Cohen Milstein Sellers & Toll PLLC is appointed interim co-counsel for the putative class in the action.

On October 25, 2011, lead plaintiffs filed an Amended and Consolidated Complaint, adding claims and individual defendants to the action.

On February 28, 2013, the Court issued an Order ruling on a number of Motions to Dismiss. The Court granted the Motions of certain defendants and denied the motions of others.

INDUSTRY CLASSIFICATION:
SIC Code: 7310
Sector: Services
Industry: Advertising


COMPANY/ISSUER NAME: China MediaExpress Holdings, Inc.
COMPANY/ISSUER TICKER: CCME
COMPANY WEBSITE:

FIRST IDENTIFIED COMPLAINT IN THE DATABASE
Daniel McIntire, et al. v. China MediaExpress Holdings, Inc., et al.
 COURT: S.D. New York  DOCKET NUMBER: 11-CV-00804
 JUDGE NAME: Hon.Victor Marrero
 DATE FILED: 02/04/2011  SOURCE: 
 CLASS PERIOD START: 11/08/2010  CLASS PERIOD END: 02/03/2011
 TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
 PLAINTIFF FIRMS NAMED IN COMPLAINT:
  • Holzer Holzer & Fistel, LLC (Atlanta)
      200 Ashford Center North, Suite 300, Atlanta, GA, 30338
       (voice) 770.392.0090, (fax) 770.392.0090,
  • Law Offices of Jeffrey A. Berens, LLC
      8691 East 26th Avenue, Denver, CO, 80238-2549
       (voice) 303.378.8332, (fax) 303.395.0393,
  • Robbins Geller Rudman & Dowd LLP (Melville)
      58 South Service Road, Suite 200, Melville, NY, 11747
       (voice) 631.367.7100, (fax) 631.367.1173,
    _____________________________________________
     TOTAL NUMBER OF PLAINTIFF FIRMS:  3

  •  DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
    Complaint - Demand for Jury Trial
    Type: Complaint Date on the document: 02/04/2011
    Order
    Type: Order of Consolidation Date on the document: 04/04/2011
    Order
    Type: Order Date on the document: 04/15/2011
    Amended and Consolidated Complaint
    Type: Other Date on the document: 10/24/2011

    REFERENCE COMPLAINT
    Daniel McIntire, et al. v. China MediaExpress Holdings, Inc., et al.
     COURT: S.D. New York  DOCKET NUMBER: 11-CV-00804
     JUDGE NAME: 
     DATE FILED: 10/25/2011  SOURCE: 
     CLASS PERIOD START: 10/05/2009  CLASS PERIOD END: 03/11/2011
     TYPE OF COMPLAINT: First Amended and Consolidated
     PLAINTIFF FIRMS NAMED IN COMPLAINT:
  • Cohen Milstein Sellers & Toll PLLC (New York)
      88 Pine Street, 14th Floor, New York, NY, 10022
       (voice) 212.838.7797, (fax) 212.838.7797,
  • Hagens Berman Sobol Shapiro LLP (New York)
      One Penn Plaza, 36th Floor, New York, NY, 01119
       (voice) 212.752.5455, (fax) 212.752.5455, info@hbsslaw.com
    _____________________________________________
     TOTAL NUMBER OF PLAINTIFF FIRMS:  2

  •  DOCUMENTS FOR THE REFERENCE COMPLAINT
    U.S. District Court Civil Docket
    Type: Docket Date on the document: 12/06/2011
    Decision and Order
    Type: Order Date on the document: 02/28/2013
    U.S. District Court Civil Docket
    Type: Docket Date on the document: 03/25/2013

     OTHER DOCUMENTS
    Case Name and/or Number: 
    Type:  Date on the document: 

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