China Techfaith Wireless Communication Technology Limited Securities Litigation
On or around 07/24/2019 (Date of last review)
Filing Date: January 08, 2019
According to the Complaint, China Techfaith purports to engage in the design and development of specialized mobile handsets for consumers and enterprises in the People’s Republic of China (“PRC”) and internationally.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) China Techfaith’s agreement to sell its wholly-owned subsidiary would not be as lucrative as it led investors to believe; (2) China Techfaith failed to adequately disclose that changing market conditions would negatively impact profitability; and (3) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On May 2, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on July 24.
Company & Securities Information
Defendant: China Techfaith Wireless Communication Technology Limited
Industry: Communications Equipment
Ticker Symbol: CNTF
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Bradley Thomas, et al. v. China Techfaith Wireless Communication Technology Limited, et al.