NEW YORK, March 16, 2015 (GLOBE NEWSWIRE) — The following statement is being issued by Levi & Korsinsky, LLP:
TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED AMERICAN DEPOSITORY SHARES (“ADS”) OF LENTUO INTERNATIONAL INC. (LAS) BETWEEN JUNE 14, 2013 AND MARCH 9, 2015.
YOU ARE HEREBY NOTIFIED that a securities class action lawsuit has been commenced in the United States District Court for the Central District of California. If you purchased or otherwise acquired Lentuo International Inc. (“Lentuo”) ADS between June 14, 2013 and March 9, 2015, YOUR RIGHTS MAY BE AFFECTED BY THIS ACTION. To get more information at no cost or obligation to you, GO TO:
The complaint alleges that the Company made false and misleading statements and/or failed to disclose that: (a) Beijing Lentuo Electromechanical Group Co., Ltd., a related party of Lentuo, anticipated and issued RMB 250 million of debt in 2013 to finance the construction of 4S dealerships; (b) the consolidation of Lentuo Electromechanical into Lentuo’s financial statement is required; (c) Lentuo did not have sufficient working capital for 2015; and (d) as a result of the foregoing, the Company’s financial statements and results were materially false and misleading at all relevant times.
If you suffered a loss in Lentuo you have until May 12, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/lentuo-international-las.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
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