INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against China TechFaith Wireless Communication Technology Limited and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
LOS ANGELES--(BUSINESS WIRE)--Dec 27, 2018--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of China TechFaith Wireless Communication Technology Limited (“China TechFaith” or “the Company”) (NASDAQ: CNTF ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. China TechFaith announced before market hours on December 20, 2018, that in relation to the sale of a subsidiary, the Company would recognize “an impairment loss of US$62.2 million under net loss from discontinued operations for the first half period ended on June 30, 2018.” Based on that news, shares of China TechFaith fell more than 35% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181227005356/en/
CONTACT: The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: The Schall Law Firm
Copyright Business Wire 2018.
PUB: 12/27/2018 03:06 PM/DISC: 12/27/2018 03:06 PM