Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In China Unicom (Hong Kong) Limited To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at China Unicom (Hong Kong) Limited (“China Unicom” or the “Company”) (NYSE:CHU).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that some of the Company’s executives might have been involved in bribery and corruption while performing their duties.
Specifically, on December 28, 2015, BBC News announced that Chang Xiaobing, the former Chairman of China Unicom from 2004 to 2015, had been placed under investigation by the Communist Party's anti-corruption agency. Then, on July 12, 2016, South China Morning Post reported that China’s Central Commission for Discipline Inspection had accused Xiaobing of taking bribes, interfering in the anti-graft agency’s inspection, and violating state-owned enterprise corporate governance rules.
Most recently, April 18, 2017, The Standard reported that Xiaobing admitted at trial that he had accepted bribes worth more than 3.76 million yuan during his 14-year tenure at the Company. On this news, China Unicom’s American Depositary Receipt price fell, damaging investors.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
Faruqi & Faruqi, LLP also encourages anyone with information regarding China Unicom’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.
* The submission of this form does not create an attorney-client relationship.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.