A lawsuit was filed by an investor in shares of Qiao Xing Mobile Communication Co., Ltd. (PINK:QXMCF) over alleged securities laws violations. Deadline: February 18, 2013. Qiao Xing Mobile Communication Co., Ltd. investors should contact the Shareholders Foundation

San Diego, CA -- (SBWire) -- 12/20/2012 --An investor in shares of Qiao Xing Mobile Communication Co., Ltd. (PINK:QXMCF) filed a lawsuit in the U.S. District Court, Southern District of New York over alleged seucrities laws violations by Qiao Xing Mobile Communication Co., Ltd. in connection with certain allegedly false and misleading statements.

Investors who purchased Qiao Xing Mobile Communication Co., Ltd. (PINK:QXMCF) between September 10, 2010 and May 2, 2012, have certain options and there are short and strict deadlines running. Deadline: February 18, 2013. Qiao Xing Mobile Communication Co., Ltd. investors, who purchased a substantial amount of shares between September 10, 2010 and May 2, 2012, should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on all persons or entities who purchased or otherwise acquired securities of Qiao Xing Mobile Communication Co., Ltd. (PINK:QXMCF) between September 10, 2010 and May 2, 2012, that Qiao Xing Mobile Communication Co., Ltd. and certain of its officers and directors violated the Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

More specifically, the plaintiff claims that between September 10, 2010 and May 2, 2012 ao Xing Mobile Communication Co., Ltd. allegedly made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects.

Qiao Xing Mobile Communication Co., Ltd. (PINK:QXMCF) reported that its annual Revenue declined from over $1.63 billion in 2009 to $855.54 million in 2010 and its Net Loss over the same time periods increased from $250.37 million to $362.84 million.

On April 30, 2012, Qiao Xing Mobile Communication Co., Ltd disclosed that it would not be able to file its annual report for the year ended December 31, 2011 "due to delays in obtaining certain required documents and information necessary for its public accounting firm to complete their audit procedures in a timely manner."

Then on May 2, 2012, Qiao Xing Mobile Communication Co., Ltd announced the immediate resignation of its Chief Financial Officer.

On May 17, 2012, the NYSE delisted Qiao Xing Mobile shares.

Shares of Qiao Xing Mobile Communication Co., Ltd. trade under PINK:QXMCF at $0.12 per share.

Those who purchased Qiao Xing Mobile Communication Co., Ltd. (PINK:QXMCF) between September 10, 2010 and May 2, 2012, have certain options and there are short and strict deadlines running. Deadline: February 18, 2013. Qiao Xing Mobile Communication Co., Ltd. investors, who purchased a substantial amount of shares between September 10, 2010 and May 2, 2012, should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com