Recent Securities Litigations
ChinaCache International Holdings Ltd. (NASDAQ: CCIH)
According to the Complaint, ChinaCache is an investment holding company that provides content and application delivery services in the PRC.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) ChinaCache and the Company's Chief Executive Officer and Chairman of the Board of Directors were engaged in enterprise bribery; (ii) the foregoing conduct placed ChinaCache and the Company's Chief Executive Officer and Chairman of the Board of Directors at a heightened risk of criminal investigation and enforcement action by government authorities, which would foreseeably disrupt the Company's operations; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.