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Trading Halts; Shareholders File Suit Against China Energy Savings Technology Inc. (NASDAQ: CESV) -- KGS Reports
Wednesday May 3, 9:34 pm ET
NEW ORLEANS, LA--(MARKET WIRE)--May 3, 2006 -- Kahn Gauthier Swick, LLC ("KGS") announces that a securities class action lawsuit has been filed in the U.S. District Court for the Southern District of New York, on behalf of shareholders who purchased or otherwise acquired the common stock of China Energy Savings Technology, Inc. (NasdaqNM:CESV - News) between April 21, 2005 and February 15, 2006.
If you acquired shares of China Energy Savings Technology, Inc. during the Class Period indicated and want to discuss your legal rights, you may e-mail or call KGS, without obligation or cost to you. You may contact Lewis Kahn of KGS toll free 1-866-467-1400, ext., 100, or 504-648-1850, or by email at lewis.kahn@kglg.com.
NO CLASS HAS YET BEEN CERTIFIED IN THIS ACTION AND, UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN AN ATTORNEY.
The Complaint alleges that Defendants violated the Securities Exchange Act of 1934 by issuing a series of material misrepresentations. On February 14, 2006, the Company filed its delayed Form 10-Q, which revealed that the Company and its independent auditors were the subject of an informal SEC inquiry. On February 15, 2006, Nasdaq announced that trading was halted in China Energy, the current status of the stock.
If you are a member of the purported class, YOU HAVE UNTIL JUNE 30, 2006, TO MOVE THE COURT TO SERVE AS LEAD PLAINTIFF.
Contact:
Lewis Kahn
KGS
Toll free 1-866-467-1400, ext., 100
504-648-1850
lewis.kahn@kglg.com
