LOS ANGELES, Jan. 29, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm , a national shareholder rights litigation firm, announces the filing of a class action lawsuit against China TechFaith Wireless Communication Technology Limited (“China TechFaith” or “the Company”) (NASDAQ: CNTF ) violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between July 12, 2018 and December 19, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before March 11, 2019.
If you are a shareholder who suffered a loss, click here to participate .
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com , or by email at brian@schallfirm.com .
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. China TechFaith made an arrangement to sell a wholly-owned subsidiary that would be considerably less lucrative for the Company than it portrayed to investors. The Company failed to inform investors of changing market conditions that would impact profitability negatively. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about China TechFaith, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm Brian Schall, Esq., Sherin Mahdavian, Esq., www.schallfirm.com Office: 310-301-3335 Cell: 424-303-1964 info@schallfirm.com
SOURCE:
The Schall Law Firm
