SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of China TechFaith Wireless Communication Technology Limited (CNTF)
NEW YORK, Dec. 27, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers China TechFaith Wireless Communication Technology Limited (“China TechFaith” or the “Company”) (NASDAQ: CNTF). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: bgandg.com/cntf.
The investigation concerns whether China TechFaith and certain of its officers and/or directors have violated federal securities laws.
On December 20, 2018, China TechFaith announced that in connection with its sale of a subsidiary, it recognized “an impairment loss of US$62.2 million under net loss from discontinued operations for the first half period ended on June 30, 2018.” Following this news, China TechFaith stock dropped $0.59 per share, or over 35%, to close at $1.07 on December 20, 2018.
If you are aware of any facts relating to this investigation, or purchased China TechFaith shares, you can assist this investigation by visiting the firm’s site: bgandg.com/cntf. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | firstname.lastname@example.org