San Diego, CA -- (SBWIRE) -- 12/09/2014 -- A deadline is coming up on February 4, 2015 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of China Intelligent Lighting and Electronics Inc (AMEX: CIL) between June 18, 2010 and March 24, 2011.

Investors who purchased a significant amount of shares of China Intelligent Lighting and Electronics Inc (AMEX: CIL) between June 18, 2010 and March 24, 2011, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the China Intelligent Lighting and Electronics Inc (AMEX: CIL) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/china-intelligent-lighting-electronics-inc-amex-cil-investor-securities-class-action-lawsuit-03

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 February 4, 2015. The class action administrator for this case is Gilardi & Co, LLC.

The lawsuit was originally filed in in the U.S. District Court for the Central District of California against China Intelligent Lighting and Electronics Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between June 18, 2010 and March 29, 2011. According to the complaint the plaintiff alleges on behalf of investors who purchased the securities of China Intelligent Lighting and Electronics Inc (AMEX: CIL) during the period from June 18, 2010 through March 29, 2011, that China Intelligent Lighting & Electronics Inc, certain of its officers and directors, and underwriters violated federal securities laws by issuing materially false and misleading information in its public offering documents.

On March 29, 2011 China Intelligent Lighting and Electronics Inc issued an announcement revealing that its auditor MaloneBailey LLP had resigned and that MaloneBailey LLP had withdrawn its prior audit opinion of China Intelligent Lighting and Electronics Inc's financial statements. MaloneBailey LLP said it "believed that the accounting records of China Intelligent Lighting and Electronics Inc have been falsified, which constitutes an illegal act." MaloneBailey LLP also found that the accounting discrepancies could indicate a material error in previously issued financial statements. MaloneBailey LLP also stated that it could no longer rely on management's representations. China Intelligent Lighting and Electronics Inc also disclosed that it is the subject of a formal U.S. Securities and Exchange Commission ("SEC") investigation.

On April 1, 2011 China Intelligent Lighting and Electronics Inc disclosed that its Annual Report on Form 10-K for the year ended December 31, 2010 cannot be filed within the prescribed time period due to the termination of engagement with MaloneBailey, LLP as the Registrant's independent registered public accounting firm.

Those who purchased shares of China Intelligent Lighting and Electronic Inc (AMEX: CIL) 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