NEW YORK, June 15, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. reminds investors of the important July 25, 2012 lead plaintiff deadline in the class action lawsuit the firm filed on behalf of securities purchasers of ChinaCast Education Corporation (Nasdaq:CAST) ("ChinaCast") between February 14, 2011 and April 2, 2012 (the "Class Period").
To join the ChinaCast class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action.
The Complaint asserts violations of the federal securities laws against ChinaCast and its present and former 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 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.
If you wish to serve as lead plaintiff, you must move the Court no later than July 25, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.