MA Talk

[10452km2]

Let me just say this folks....


IF the other crew followed thru with there
right to see the books they would have had them long ago. The process is very simple and takes little time, just takes a few $$ for someone to write out the paper work if the company does not respond in time they have.

PLEASE READ THIS AS IT IS IMPORTANT

http://www.potteranderson.com/delawarecase/edelaware-marc-paul-v-china-mediaexpress-holdings-inc-1512



The Delaware Court of Chancery held that a stockholder, Marc Paul (“Paul”), established a credible basis to support two proper purposes to inspect the books and records of China MediaExpress Holdings, Inc. (“CME”) under Section 220 of the Delaware General Corporation Law (“Section 220”). The Court granted the shareholder’s demand to inspect certain documents insofar as necessary for these proper purposes. The Court denied CME’s request to stay this action under the Securities Litigation Uniform Standards Act (“SLUSA”) until after a motion to dismiss in federal court was resolved.


This action arose from allegations of fraud and mismanagement at CME. Beginning in January 2011, a financial research firm, Citron Research, and two shortsellers, Bronte Capital and Muddy Waters LLC, released reports alleging CME’s financial statements and operations were fraudulent. On March 11, CME’s independent auditor, Deloitte Touche Tohmatsu (“DTT”), formally resigned stating that it was no longer able to rely on management’s representations, certain accounting issues should be addressed through an independent investigation, and these accounting issues may have adverse implications for prior periods’ financial reports. In March and April 2011, three of CME’s directors resigned citing concerns over DTT’s resignation. NASDAQ also suspended trading in CME’s stock. In May 2011, CME’s audit committee retained DLA Piper to conduct an internal investigation of DTT’s concerns. CME’s shares were also delisted by NASDAQ.