|  | | 2008 News and Press Releases | | |
SETTLEMENT NEWS:
QIAO XING: Settles Securities Fraud Suit in NY for $2.4 Million
Staff Writer
Class Action Reporter. April 29, 2008
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EXCERPT- Qiao Xing Universal Telephone, Inc. has settled a securities fraud suit filed with the United States District Court for the Southern District of New York. The proposed settlement provides for creation of a Settlement Fund in the amount of $2,400,000. The Complaint charged Qiao Xing and certain of its officers and directors with violations of the Securities Exchange Act of 1934 (Class Action Reporter, Sept. 3, 2007). Deadline to file for exclusions is on June 16, 2008. Deadline to file objections is on June 20, 2008. Deadline to file claims is July 21, 2008.
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