CAST unable to file on time. "ChinaCast Education Corporation (the “Company”) experienced a disruption in its normal closing process and the preparation of its financial statements for the fiscal year ended December 31, 2011 as a result of an unexpected workload arising from certain fourth quarter and post-year end events, all of which have been previously disclosed. Specifically, the Company’s management and accounting personnel spent a significant amount of time working with a special committee of independent directors formed in November 2011 to evaluate strategic alternatives to enhance shareholder value following an unsolicited buyout offer for the Company. The Company’s management and accounting personnel have also spent a significant amount of time in connection with the proxy contest in December 2011 and early January 2012 as well as the review of its Form 10-K for the year ended December 31, 2010 by the Securities and Exchange Commission." http://sec.gov/Archives/edgar/data/1261888/000114420412015617/v306109_nt10k.htm
Resignations. "After the reconstitution of the new board, and given the control of the board by the new slate of independent directors, I have become increasingly less content with the manner in which important corporate decisions, many of which I believe have adversely affected the Company and its shareholders, have been made. In addition, unfounded legal proceedings and threats made by certain board members against our management team, and me personally, have created a hostile and dysfunctional board environment." http://sec.gov/Archives/edgar/data/1261888/000114420412016792/v306965_ex17-1.htm
CAST - 1 of 10 chinese for profit education companies trading on the U.S. exchange, while none trade anywhere else. All of them are ridiculous, trying to sell their silly stories to U.S. investors. EDU has almost a $5B market cap - hahahaha - who falls for this baloney?