Federman & Sherwood Announces That a Securities Class Action Lawsuit has Been Filed Against Xinhua Finance Media Ltd.
26 May 2007 - 10:22AM
PR Newswire (US)
OKLAHOMA CITY, May 25 /PRNewswire/ -- On May 22, 2007, a class
action lawsuit was filed in the United States District Court for
the Southern District of New York against Xinhua Finance Media Ltd.
(NASDAQ:XFML). The complaint alleges violations of federal
securities laws, Sections 10(b) and 20(a) of the Securities
Exchange Act of 1934 and Rule 10b-5, including allegations of
issuing a series of material misrepresentations to the market which
had the effect of artificially inflating the market price. The
class period is traceable to Xinhua's initial public offering on
March 8, 2007 (the "IPO") through May 21, 2007. Plaintiff seeks to
recover damages on behalf of the Class. If you are a member of the
Class as described above, you may move the Court no later than
Monday, July 23, 2007, to serve as a lead plaintiff for the Class.
However, in order to do so, you must meet certain legal
requirements pursuant to the Private Securities Litigation Reform
Act of 1995. If you wish to discuss this action, participate in
this or any other lawsuit, or have any questions or concerns
regarding this notice, or preservation of your rights, please
contact: William B. Federman FEDERMAN & SHERWOOD 10205 North
Pennsylvania Avenue Oklahoma City, OK 73120 Email to: -
http://www.federmanlaw.com/ DATASOURCE: Federman & Sherwood
CONTACT: William B. Federman of Federman & Sherwood,
+1-405-235-1560, or Web site: http://www.federmanlaw.com/
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