Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In China Zenix Auto International Limited To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in China Zenix Auto International Limited (“China Zenix” or the “Company”) (OTC: ZX) of the December 31, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in China Zenix stock or options between October 2, 2015 and June 14, 2018 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you.
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.
The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased China Zenix securities between October 2, 2015 and June 14, 2018 (the “Class Period”). The case, Zhengyu He v. China Zenix Auto International Limited, Inc., No. 18-cv-15530 was filed on Octobr 31, 2018.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making materially false and/or misleading statements and/or failed to disclose that: (1) China Zenix’s trading actions in connection with its compliance with the NYSE Continued Listed Requirements were contrary to public policy; (2) China Zenix had inadequate internal controls over financial reporting; and (3) as a result of the foregoing, the Company’s statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Specifically, on June 14, 2018, the New York Stock Exchange (“NYSE”) suspended trading in China Zenix securities and commenced delisting proceedings. The NYSE issued a press release stating, in part, that “[t]he determination to delist the Company was based on an investigation conducted by NYSE Regulation that brought to light the existence of evens that made further dealings or listing of the securities on the [NYSE] contrary to the public interest and not in keeping with sound public policy, pursuant to Section 802.01D of the Listed Company Manual.”
After the announcement, China Zenix’s share price fell from $1.38 per share on June 14, 2018 to a closing price of $0.80 on June 18, 2018—a $0.58 or a 42.03% drop.
China Zenix Auto International Limited (ZX)
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Filed on 12/13/2018
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