|[May 04, 2014]
The Rosen Law Firm Announces Investigation of Civil Securities Claims against China Ceramics Co., Ltd. - CCCL
NEW YORK --(Business Wire)--
The Rosen Law Firm, P.A. announces that it is investigating potential
civil securities claims against China Ceramics Co., Ltd. (NASDAQ:CCCL)
resulting from allegations that the Company may have issued materially
inaccurate statements about the Company's true financial condition and
On May 1, 2014, NASDAQ announced that trading in China Ceramics was
halted that day for "additional information requested" from the Company.
On that same day, China Ceramics announced, among other things, that:
(i) on April 30, 2014, the Company terminated the engagement of Grant
Thornton as its principal independent registered public accountants;
(ii) following the decision to terminate Grant Thornton (News - Alert), William L.
Stulginsky tendered his resignation as an independent director and
Chairman of the Audit Committee (iii) the audit of the Company's
consolidated financial statements for the year ended December 31, 2013
has not been completed; (iv) the Company is unable to timely file its
Annual Report on Form 20-F for the year ended December 31, 2013; and (v)
during the preparation of its 2013 financial statements the Company
identified a write down of assets for the fourth quarter resulting from
unused capacity at its Hengdali facility, which is currently estimated
to be $7.5 million.
The Rosen Law Firm is preparing a securities class action lawsuit on
behalf of China Ceramics investors. If you purchased China Ceramics
stock prior to May 1, 2014 please visit the website at http://rosenlegal.com
to join the class action. You may also contact Phillip Kim, Esq. or
Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via
e-mail at firstname.lastname@example.org
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and shareholder
Attorney Advertising. Prior results do not guarantee a similar outcome.
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