China Auto Logistics Inc. INVESTOR
ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that
a securities class action lawsuit has been filed in the United
States District Court for the District of New Jersey against China
Auto Logistics Inc.
Lead Plaintiff Deadline is August 6,
NEW YORK, NY / ACCESSWIRE / July 26, 2018
/ Wolf Haldenstein Adler Freeman
& Herz LLP announces that a class action lawsuit has been
filed in the United States District Court for the District of New
Jersey on behalf of all persons or entities who purchased or
otherwise acquired securities of China Auto Logistics Inc.
(CALI) from March 28, 2017 through April
13, 2018, both dates inclusive ("Class Period").
Investors who have incurred losses in
shares of China Auto Logistics Inc. are urged to
contact the firm immediately at [email protected] or
(800) 575-0735 or (212) 545-4774. You may obtain additional
information concerning the action on our website,
If you have incurred losses in the shares of
China Auto Logistics Inc. and would like to assist with the
litigation process as a lead plaintiff, you may, no later
than August 6, 2018, request that the Court appoint you
lead plaintiff of the proposed class. Please contact Wolf Haldenstein to
learn more about your rights as an investor in China Auto Logistics
According to the filed complaint, throughout the
Class Period, defendants made false and/or misleading statements
and/or failed to disclose that:
On April 2, 2018, China Auto Logistics Inc.
reported that it was unable to timely file its Annual Report on
Form 10-K for the period ending December 31, 2017 because it needed
extra time to "identify certain related party transactions and
the impact of such transactions for the preparation of the
financial statements for the Form 10-K." They also identified
a material weakness in its internal controls over "identifying
and reporting certain relationships and related
On this news, shares of China Auto Logistics Inc.
fell over 19% to close at $2.79 on April 2, 2018. On July
17th, the stock was halted for trading with the last day's close
reported at $2.37 per share.
Wolf Haldenstein Adler Freeman
& Herz LLP has extensive experience in the prosecution of
securities class actions and derivative litigation in state and
federal trial and appellate courts across the country. The firm has
attorneys in various practice areas; and offices in New York,
Chicago and San Diego. The reputation and expertise of this firm in
shareholder and other class litigation has been repeatedly
recognized by the courts, which have appointed it to major
positions in complex securities multi-district and consolidated
If you wish to discuss this action or have any
questions regarding your rights and interests in this case, please
immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via
e-mail at [email protected], or visit our website at
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Wolf Haldenstein Adler Freeman & Herz
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
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guarantee or predict a similar outcome.
SOURCE: Wolf Haldenstein Adler
Freeman & Herz LLP