An investigation on behalf of current long term investors in ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:CCIH stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/04/2016 -- An investigation for shareholders of ChinaCache Internatnl Hldgs Ltd concerning potential breaches of fiduciary duties by certain directors of ChinaCache Internatnl Hldgs Ltd was announced.
Investors who are current long term investors in ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ:CCIH stocks follows a lawsuit filed recently against ChinaCache Internatnl Hldgs Ltd (over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:CCIH stocks, concerns whether certain ChinaCache Internatnl Hldgs officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges that between April 11, 2015 and August 20, 2015 issued materially false and misleading statements to investors and/or failed to disclose that the platform migration to High Performance Cloud Cache was not successful, that the platform migration to High Performance Cloud Cache posed the risk of a negative impact on the Company's financial performance, that as a result of the unsuccessful migration, the Company's revenue for the second quarter of 2015 would be below expectations, and that as a result, ChinaCache International Holdings Ltd's public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On August 20, 2015, ChinaCache International Holdings announced its second quarter 2015 financial results. Chairman and Chief Executive Officer of ChinaCache Internatnl Hldgs Ltd, Mr. Song Wang, disclosed that ChinaCache International Holdings is currently experiencing some platform issues, which have impacted its top-line recently. Shares of ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) declined to as low as $4.69 per share on August 24, 2015.
Those who purchased shares of ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com