NEW YORK, NY / ACCESSWIRE / June 7, 2019 / Pomerantz LLP is investigating claims on behalf of investors of ChinaCache International Holdings Ltd. ("ChinaCache" or the "Company") (NASDAQ: CCIH). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether ChinaCache and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On April 29, 2019, ChinaCache filed a Form NT 20-F with the U.S. Securities and Exchange Commission revealing that it would delay filing its annual report for the 2018 fiscal year. On May 17, 2019, ChinaCache announced that the Company and its Chief Executive Officer ("CEO") and Chairman of the Board of Directors, Song Wang, were under criminal investigation by a government prosecutor office in Beijing for charges of enterprise bribery. Wang resigned as CEO and Chairman, and on that same day, ChinaCache securities were halted from trading on the NASDAQ. On May 23, 2019, ChinaCache disclosed receipt of a NASDAQ Notification Letter concerning the Company's failure to comply with NASDAQ listing requirements by delaying its 2018 Form NT 20-F (the "NASDAQ Letter"). The NASDAQ Letter also probed the Company regarding the resignation of its auditor, Grant Thornton China, ChinaCache's engagement of its new independent auditor, and the allegations of enterprise bribery by ChinaCache and Wang.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
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