China Education Alliance, Inc. - Securities Class Action

Company and Case Information

IMPORTANT INFORMATION | INDEX OF FILINGS | SEARCH

Home

Index of Filings

News and Press Releases

Filings

Decisions

Settlements

Litigation Activity Indices

Top Ten List

Annual/Quarterly Updates

Clearinghouse Research

Articles & Papers

Search

Related Sites

About Us

Local Rules

Sponsors

Register

_______________
Copyright (c) 2001
Stanford Law School

China Education Alliance, Inc. Summary: According to a press release dated December 03, 2010, the Complaint alleges violations of the Securities Exchange Act against China Education Alliance and certain of its officers and directors for misrepresenting the Company’s financial performance. The Complaint alleges that contrary to the Company’s annual reports filed with the SEC for fiscal 2008, which reported $24.9 million of revenue, an annual report for the Company’s main operating subsidiary filed with the Chinese authorities reported less than a million of revenue for 2008. This discrepancy, along with other accounting inconsistencies, and contradictions about the Company’s online education and training center operating segments, has raised red flags of fraud. When this adverse information was released to the market on November 29, 2010 the price of China Education Alliance stock fell substantially damaging investors.

On March 2, 1011, Judge Christina A. Snyder granted the motion to consolidate two related actions under Master Docket, case number No. CV 10-09239 CAS (JCx). According to the order, every pleading filed in this consolidated action shall bear the following caption: In re China Education Alliance, Inc. Securities Litigation. All Securities Class Actions subsequently filed in, or transferred to, this District shall be consolidated into this action. The Troxler Group is appointed Lead Plaintiff of the class. Movant's choice of counsel is approved, and accordingly, the Rosen Law Firm, P.A. is appointed Lead Counsel.

On May 2, 2011, the Lead Plaintiff filed a Consolidated Amended Complaint alleging violations of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5. The defendants filed a motion to dismiss the case on September 6, 2011, which was denied on October 11, 2011.

On December 5, 2011, the plaintiff filed a Consolidated Second Amended Complaint.

On April 5, 2012, the Court denied the motions to dismiss of certain individual defendants, but also granted without prejudice the motion to dismiss of another individual defendant. Plaintiffs were given leave to file an amended complaint.

INDUSTRY CLASSIFICATION:
SIC Code: 8200
Sector: Services
Industry: Schools

COMPANY/ISSUER NAME:	China Education Alliance, Inc.
COMPANY/ISSUER TICKER:	CEU
COMPANY WEBSITE:	www.chinaeducationalliance.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Vinnie Apicella, et al. v. China Education Alliance, Inc., et al.

COURT: C.D. California	DOCKET NUMBER: 10-CV-09239
JUDGE NAME: Hon. Christina A. Snyder
DATE FILED: 12/02/2010	SOURCE:
CLASS PERIOD START: 03/31/2009	CLASS PERIOD END: 11/29/2010
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
The Rosen Law Firm, P.A. 333 South Grand Avenue, 25th Floor, Los Angeles, CA, 90071 (voice) 213.785.2610, (fax) 213.226-4684, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Complaint
Type: Complaint		Date on the document: 12/02/2010
Order
Type: Order Appointing LP/LC		Date on the document: 03/01/2011

REFERENCE COMPLAINT

In re China Education Alliance, Inc. Securities Litigation

COURT: C.D. California	DOCKET NUMBER: 10-CV-09239
JUDGE NAME:
DATE FILED: 12/05/2011	SOURCE:
CLASS PERIOD START: 05/18/2008	CLASS PERIOD END: 12/07/2010
TYPE OF COMPLAINT: Second Consolidated
PLAINTIFF FIRMS NAMED IN COMPLAINT:
The Rosen Law Firm, P.A. 333 South Grand Avenue, 25th Floor, Los Angeles, CA, 90071 (voice) 213.785.2610, (fax) 213.226-4684, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Amended Complaint For Violation Of The Federal Securities Laws
Type: Complaint		Date on the document: 05/02/2011
Civil Minutes - General
Type: Other		Date on the document: 10/11/2011
Consolidated Second Amended Complaint for Violation of the Federal Securities Laws
Type: Complaint		Date on the document: 12/05/2011
U.S. District Court Civil Docket
Type: Docket		Date on the document: 01/05/2012
(In Chambers:) Defendant Hsu’s Motion To Dismiss (Filed 1/10/2012) Defendants Liansheng Zhang And Yizhao Zhang’s Motion To Dismiss (Filed 2/13/2012)
Type: Order		Date on the document: 04/06/2012

OTHER DOCUMENTS

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

WARNING AND DISCLAIMER OF LIABILITY:
The information included on this Web site, whether provided by personnel employed by Stanford Law School or by third parties, is provided for research and teaching purposes only. Neither Stanford University, Stanford Law School, nor any of their employees, agents, contractors, or affiliates warrant the accuracy or completeness of the information or analyses displayed herein, and we caution all readers that inclusion of any information on this site does not constitute an endorsement of the truthfulness or accuracy of that information. In particular, this Web site contains complaints and other documents filed in federal and state courts, which make allegations that may or may not be accurate. No reader should, on the basis of information contained in or referenced by this Web site, assume that any of these allegations are truthful.

Go to Search page | Go to Case Index page | Back to Top

�