NEW YORK, March 07, 2017 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Cemtrex, Inc. (“Cemtrex” or the “Company”) (NASDAQ: CETX ) and certain of its officers, and is on behalf of a class consisting of all persons or entities who purchased Cemtrex securities between February 11, 2016 and February 22, 2017, both dates inclusive (the “Class Period”). Such investors are advised to join this case by visiting the firm’s site: http://www.bgandg.com/cetx .
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) over $1 million has been paid to notorious stock promoters since late 2015; (2) the entity paying for the stock promotion was owned by Cemtrex’s founder, Aron Govil, and based out of Cemtrex’s corporate headquarters; (3) senior executives engaged in undisclosed insider selling; and (4) Cemtrex retained a foreign accounting firm with a history of fraudulent endeavors to conduct its financial audits. Consequently, Defendants’ statements about Cemtrex’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis throughout the Class Period.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/cetx or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Cemtrex you have until April 25, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com
