ChinaCast, Inc CAST Securities Stock Fraud

Company:	ChinaCast, Inc
Ticker Symbol:	CAST
Class Period:	Feb-14-11 to Apr-2-12
Date Filed:	May-29-12
Lead Plaintiff Deadline:	Jul-28-12
Court:	Central District of California
Allegations:

New York, NY: A securities class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of a class of purchasers of ChinaCast, Inc. ("ChinaCast" or the "Company") stock between February 14, 2011 and April 2, 2012 (the "Class Period").

The Complaint asserts violations of the federal securities laws against ChinaCast and its officers and directors for issuing false and misleading information to investors about the Company's true financial and business condition.

Specifically, the Complaint alleges ChinaCast issued materially false and misleading financial statements during the Class Period because of undisclosed material weaknesses in the Company's internal controls and the alleged wrongful transfer of $120 million in cash by CEO Chan from bank accounts of ChinaCast's subsidiaries.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

ChinaCast, Inc CAST Securities Fraud Legal Help

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Published on May-29-12