A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of China North East Petroleum Holdings Ltd (OTC:CNEP) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on March 6, 2017 and OTC:CNEP investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/24/2017 -- A deadline is coming up on March 6, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of China North East Petroleum Holdings Ltd (OTC:CNEP) between September 3, 2010 and March 14, 2012.
Investors who purchased a significant amount of shares of China North East Petroleum Holdings Ltd (OTC:CNEP) between September 3, 2010 and March 14, 2012, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the China North East Petroleum Holdings Ltd (OTC:CNEP) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/china-north-east-petroleum-holdings-ltd-otc-cnep-investor-securities-class-action-lawsuit-12312
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is March 6, 2017. The class action administrator for this case is Strategic Claims Services.
The lawsuit was originally filed in the U.S. District Court for the Central District of California against Baker Tilly Hong Kong Ltd for their role as auditor of China North East Petroleum Holdings Ltd's financial statements that are alleged to have been false and misleading.
According to the complaint the plaintiff alleges on behalf of purchasers of China North East Petroleum Holdings Ltd (OTC:CNEP) common shares between January 1, 2010 and April 4, 2013, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that China North East Petroleum Holdings Ltd's auditor Baker Tilly Hong Kong Ltd, fraudulently issued clean audit reports for China North East's financial statements.
Those who purchased shares of China North East Petroleum Holdings Ltd (OTC:CNEP) 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