China Century Dragon Media, Inc.
Robbins Umeda LLP Announces an Investigation of China Century Dragon Media, Inc.
Robbins Umeda LLP, a shareholder rights litigation firm, announces the filing of a shareholder derivative complaint on behalf of shareholders of China Century Dragon Media, Inc. (NYSE Amex: CDM) in the Court of Chancery of the State of Delaware. China Century is a television advertising company that engages in the promotion, sale, and marketing of advertising packages on China Central Television. The company was incorporated in 2009 in Delaware, and is headquartered in Huizhou City, Guangdong Province, China.
Robbins Umeda LLP is investigating whether the directors and officers of China Century harmed the company by breaching their fiduciary duties. In particular, our investigation focuses on China Century’s March 28, 2011 disclosure that the NYSE Amex LLC had subjected the company to delisting because its account records may have been falsified. The disclosure also stated that the company’s independent auditor, MaloneBailey LLP, would resign. MaloneBailey LLP resigned from the company because its auditors could not rely on the validity of financial statements made by China Century’s management. Additionally, on March 28, 2011, China Century informed investors that the U.S. Securities and Exchange Commission was launching a formal investigation into the company. As a result, the trading of China Century stock has been halted since March 21, 2011, and on Friday, June 17, 2011, the NYSE Amex LLC announced that it had denied the company’s request for continued listing and said it would suspend China Century’s listing on the exchange.
If you own stock in China Century and would like more information about your shareholder rights, please complete the form below and we will contact you directly. We also welcome you to call us at 800-350-6003.