OYSTER BAY COVE, N.Y., Jan. 16, 2015 (GLOBE NEWSWIRE) -- The Brown Law Firm, P.C. announces it has filed a class action lawsuit on behalf of purchasers of Pingtan Marine Enterprise Ltd. common stock (Nasdaq:PME) between May 14, 2013 and November 6, 2014. The action was filed in the U.S. District Court for the Southern District of New York.
The complaint alleges that Pingtan failed to properly disclose related party transactions. On November 6, 2014, the company revealed that it will restate its previously issued financial statements for the years ended December 31, 2012 and 2013, and for the quarters ended March 31, 2013 and 2014, and June 30, 2013 and 2014.
If you wish to serve as lead plaintiff, you must move the Court no later than January 23, 2015. If you would like to join the action or have questions, please contact Timothy W. Brown, Esq., at tbrown@thebrownlawfirm.net or (516) 922-5427.
The Brown Law Firm, P.C. represents aggrieved investors, concentrating on securities class actions and shareholder derivative litigation.