A lawsuit was filed on behalf of investors in ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) shares over alleged securities laws violations and NASDAQ:CCIH investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/03/2015 -- A shareholder in NASDAQ:CCIH shares filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by ChinaCache International Holdings Ltd.
Investors who purchased a significant amount of shares of ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) between April 11, 2015 and August 20, 2015,have certain options and for certain investors are short and strict deadlines running. Deadline: December 8, 2015. NASDAQ:CCIH investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
The plaintiff claims 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.
ChinaCache Internatnl Hldgs Ltd reported that its annual Total Revenue increased from over $1.1 billion in 2013 to $1.38 billion in 2014 and that its Net Loss declined from $34.23 million in 2013 to $6.84 million in 2014. Shares of ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) grew to as high as $15.53 per share on June 10, 2015.
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 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