The Klein Law Firm Reminds Investors of Commencement of a Class Action Filed on Behalf of Celadon Group Inc. Shareholders & a...
June 05 2017 - 1:43PM
Business Wire
The Klein Law Firm announces that a class action complaint has
been filed on behalf of shareholders of Celadon Group Inc. (NYSE:
CGI) who purchased shares between January 27,
2016 and May 2, 2017. The
action, which was filed in the U.S. District Court for the Southern
District of New York, alleges that the Company violated federal
securities laws.
The complaint alleges that throughout the Class Period
defendants made false and/or misleading statements and/or failed to
disclose that: (i) CGI's equity contribution to its joint venture
with Element Financial Corp. was $68.2 million, rather than the
$100 million contribution the Company reported in its public
filings; (ii) the Company is being actively investigated by the
SEC; (iii) CGI’s financial statements for the fiscal year ended
June 30, 2016 and the quarter ended September 30, 2016 could not be
relied upon; (iv) that as a result of the foregoing, CGI's publicly
disseminated financial statements were materially false and
misleading.
Shareholders have until June 19, 2017 to petition the
court for lead plaintiff status. Your ability to share in any
recovery does not require that you serve as lead plaintiff. You may
choose to be an absent class member.
If you suffered a loss during the class period and wish to
obtain additional information, please contact Joseph Klein, Esq. by
telephone at 212-616-4899 or visit
http://www.kleinstocklaw.com/pslra-sa/celadon-group-inc?wire=2.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation. Attorney advertising. Prior
results do not guarantee similar outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20170605005974/en/
The Klein Law FirmJoseph Klein, Esq.Telephone: (212)
616-4899Fax: (347) 558-9665www.kleinstocklaw.com
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