Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Xinhua Finance Media Ltd.
May 29 2007 - 8:00PM
PR Newswire (US)
BENSALEM, Pa., May 29 /PRNewswire/ -- Law Offices of Howard G.
Smith announces that a securities class action lawsuit has been
filed on behalf of shareholders who purchased shares of Xinhua
Finance Media Ltd. ("Xinhua" or the "Company")(NASDAQ:XFML), in
connection with the Company's Initial Public Offering ("IPO") on or
about March 9, 2007, or thereafter in the open market. The class
action lawsuit was filed in the United States District Court for
the Southern District of New York. The Complaint alleges that
defendants violated federal securities laws by issuing material
misrepresentations to the market concerning the Company's
operations and management, thereby artificially inflating the price
of Xinhua securities. No class has yet been certified in the above
action. Until a class is certified, you are not represented by
counsel unless you retain one. If you purchased Xinhua shares in
connection with the Company's IPO on or about March 9, 2007, or
thereafter in the open market, you have certain rights, and have
until July 23, 2007, to move for Lead Plaintiff status. To be a
member of the class you need not take any action at this time, and
you may retain counsel of your choice. If you wish to discuss this
action or have any questions concerning this Notice or your rights
or interests with respect to these matters, please contact Howard
G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol
Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at
(215)638-4847, Toll-Free at (888)638-4847, by email to or visit our
website at http://www.howardsmithlaw.com/. DATASOURCE: Law Offices
of Howard G. Smith CONTACT: Howard G. Smith, Esquire, of Law
Offices of Howard G. Smith, +1-215-638-4847, Web site:
http://www.howardsmithlaw.com/
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