I wouldn't put to much stock in what someone with a vested interest in FUD writes on YMB, even if it's about theories related to a property owner's compensation in New York... Plainly this fellow or his comrades has/have yet to cover.
Here are confirmations of direct CCME/Audit Committee of the Board of Directors representation by DLA Piper (in no particular order):
Well, I know DLA Piper is still working with CCME as a client as of a few days ago (and PWC is still engaged). I called them and spoke to the lawyer in charge of the account to confirm. As expected, of course, the lawyer would not say anything specific -- But he was able to confirm CCME is a client.
Happy now? Not that hard to verify these things :).
Your certainly correct in us not knowing the exact ROLE that DLA-Piper and PWC are playing -- But let us not question the fact that they are currently involved.
-Fernando
Disclosure: I have no position in CCME at this time.
"When I spoke with a DLA Piper lawyer handling the CCME matter to confirm the authenticity of the original announcement of DLA Piper being retained, at that time the attorney was presumably authorized to confirm the existence of the attorney-client relationship (which had proximately to then been broadcast over the newswire).
I have not since then contacted DLA Piper to confirm the continuity of the representation.
2) That said, I have no reason to believe DLA Piper is not still representing CCME. Like all of you, I do have reason to believe the facts DLA Piper will report, if a report is issued, will be scathing of the company. (Some of you have the same facts as reported and may come to a different conclusion about the company)."
"I contacted DLA Piper yesterday to confirm they represent CCME. An attorney with DLA Piper spoke with me today and confirmed the representation. I don't see any further reason for anyone to doubt the existence of the representation. I also advise against contacting DLA Piper as they cannot share anything with you that I have not already shared without compromising their relationship with their client, CCME.
Before anyone asks me for more details, let me start by saying I have no further details and I am not offering any further details about that communication, out of respect for the attorney. I did not ask to use the attorney's name so I am not posting it here.
I am choosing to post this message, however, in light of comments brought to my attention that some anonymously questioned the existence of the relationship (despite it being in a press release).
After the attorney acknowledged the relationship with CCME, I explained the confusion over whether Fleishman-Hilliard (FH) did or did not represent CCME at one time on PR matters, and that shareholders are consequently skeptical of CCME announcements or rumors of professional representation by any prominent firm. I also explained that I don't want to ask about anything other than to verify the representation out of respect for their attorney-client privilege. In fact I specified for him not to answer anything further other than answering whether they do represent CCME.
The attorney was professional and polite. He affirmed that CCME is represented by DLP Piper. End of story.
To be clear, I did not ask whether DLA Piper can confirm retainer of PWC. If DLA says they are involved, this means they are aware of the press release and that is good enough for me. If there is something false about that statement, we'd find out soon enough as CCME would have to retract the statement via press release forced by DLA Piper."
FUJIAN, China, May 2, 2011 -- China MediaExpress Holdings, Inc. ("CME" or "Company"), China's largest television advertising operator on inter-city and airport express buses, today announced that the Audit Committee of the Board of Directors of the Company has retained law firm DLA Piper to assist in its investigation of concerns raised by Deloitte Touche Tohmatsu (“DTT”) when it resigned as the Company’s registered independent accounting firm on March 11, 2011. “The Audit Committee of the Board of Directors is proceeding with the investigation of the concerns raised by DTT, and is pleased to have DLA Piper on board, who in turn has retained a Big Four audit firm, PricewaterhouseCoopers, to assist in this investigation" stated Mr. George Zhou, Independent Director and member of Audit Committee.