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Chinacast Education Corporation Summary: According to the law firm press release, the Complaint asserts violations of the federal securities laws against ChinaCast and its officers and directors for issuing false and misleading information to investors about the Company’s true financial and business condition. Specifically, the Complaint alleges ChinaCast issued materially false and misleading financial statements during the Class Period because of undisclosed material weaknesses in the Company’s internal controls and the alleged wrongful transfer of $120 million in cash by CEO Chan from bank accounts of ChinaCast’s subsidiaries.
On August 22, 2012, the Court issued an Order consolidating cases, appointing lead plaintiffs, and approving the selection of lead counsel.
On September 17, 2012, the Plaintiffs filed their consolidated complaint.
INDUSTRY CLASSIFICATION:
SIC Code: 8200
Sector: Services
Industry: Schools
| COMPANY/ISSUER NAME: | Chinacast Education Corporation |
| COMPANY/ISSUER TICKER: | CAST |
| COMPANY WEBSITE: | http://www.chinacasteducation.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Alejandro Puente, et al. v. Chinacast Education Corporation, et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Complaint | |||
| Type: Complaint | Date on the document: 05/25/2012 | ||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 05/25/2012 | ||
| Civil Minutes - General | |||
| Type: Order Appointing LP/LC | Date on the document: 08/22/2012 | ||
| REFERENCE COMPLAINT | |||||||||||||||||
| In re Chinacast Education, Corp. Securities Litigation | |||||||||||||||||
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| DOCUMENTS FOR THE REFERENCE COMPLAINT | |||
| Consolidated Class Action Complaint | |||
| Type: Complaint | Date on the document: 09/17/2012 | ||
| OTHER DOCUMENTS | |||
| Case Name and/or Number: | |||
| Type: | Date on the document: | ||
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