Weiss & Lurie Announces Class Action Suit Against China Security & Surveillance Technology, Inc.
August 01 2011 - 2:34PM
Business Wire
Weiss & Lurie commenced a class action lawsuit on July
21, 2011, in the U.S. District Court for the District of Delaware
on behalf of all persons who hold shares of China Security &
Surveillance Technology, Inc. (NYSE: CSR) against CSR and its board
of directors for violations of sections 14(a) and 20(a) of the
Securities and Exchange Act of 1934 in connection with the proposed
acquisition of CSR by Rightmark Holdings Limited, a wholly owned
subsidiary of Guoshen Tu, CSR’s Chairman and CEO for $6.50 per CSR
share (the “Proposed Acquisition”).
The complaint alleges that, in an attempt to secure shareholder
approval of the Proposed Acquisition, defendants filed a materially
misleading Preliminary Proxy Statement, which omitted and/or
misrepresented information that CSR shareholders would find
material in making an informed decision as to whether or not to
vote in favor of the Proposed Acquisition. The complaint further
alleges that certain of the defendants breached, or aided and
abetted the other defendants' breaches of their fiduciary
duties.
If you wish to serve as lead plaintiff, you must move the Court
no later than 60 days from August 1, 2011. If you wish to discuss
this action or have any questions concerning this notice, please
contact Richard Acocelli or Joshua Rubin of Weiss & Lurie at
888-593-4771, via our website or by e-mail
at info@weisslurie.com. Any member of the Class may move the
Court to serve as lead plaintiff through counsel of their choice,
or may choose to do nothing and remain an absent class member.
Weiss & Lurie has litigated hundreds of stockholder class
and derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
institutions and individuals and obtained important corporate
governance in these cases. If you have information or would like
legal advice concerning possible corporate wrongdoing, consumer
fraud, or anti-trust violations, please email us at
info@weisslurie.com or fill out the form on our website,
http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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