NEW YORK, Feb. 4, 2015 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the USDC for the Central District of California on behalf of investors who purchased China North East Petroleum Holdings Limited ("China North East" or the "Company") (Other OTC:CNEP) common stock between January 1, 2010 and April 4, 2013. The suit asserts claims against the Company's auditor, Baker Tilly Hong Kong Limited ("Baker Tilly"). The complaint alleges that Baker Tilly fraudulently issued clean audit reports for China North East's financial statements.
To get more information, click here: http://zlk.9nl.com/china-north-east-petroleum-cnep. There is no cost or obligation to you.
In a May 27, 2010 filing with the SEC, China North East acknowledged that its audit committee discovered improper cash transfers in 2009 between bank accounts of China North East and the personal accounts of a certain Company officer and director. Then on December 17, 2014, Baker Tilly and its former and current directors agreed to pay $115,000 to settle allegations that they failed to properly audit a company later sued by the SEC for fraud.
If you suffered a loss in China North East you have until March 2, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/china-north-east-petroleum-cnep.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.