NEW YORK, Jan. 12, 2015 (GLOBE NEWSWIRE) -- The Rosen Law Firm reminds purchasers of Pingtan Marine Enterprise Ltd. common stock (Nasdaq:PME) during the period between May 14, 2013 and November 6, 2014, of the important January 23, 2015 lead plaintiff deadline in the class action filed by the firm.
To join the Pingtan class action, go to the website at http://www.rosenlegal.com/cases-430.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Pingtan failed to adequately disclose the true nature of material related party transactions that rendered its financial statements materially false and misleading. On November 6, 2014, Pingtan Marine Enterprise announced that it will restate its previously issued annual financial statements for the years ended December 31, 2013 and 2012, and for the quarters ended March 31, 2014 and 2013, and June 2014 and 2013. The Company revealed the restatements will primarily reflect 20 fishing vessels leased from a related party, clarifications to certain disclosures, and other miscellaneous adjustments. When these adverse facts entered the market, the price of Pingtan stock dropped, damaging investors.
If you wish to join the class action at no cost, go to http://www.rosenlegal.com/cases-430.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.