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China XD Plastics Company Limited Class Action Alert: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors of the upcoming Lead Plaintiff deadline in the ligation against China XD Plastics Company Limited filed in the United States District Court for the Eastern District of New York

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Wolf Haldenstein Adler Freeman & Herz LLP
·2 min read
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LEAD PLAINTIFF DEADLINE IS FEBRUARY 8, 2021

NEW YORK, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a federal securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of shareholders of China XD Plastics Company Limited (NASDAQ: CXDC) for their violations of Sections 13(d) and (e), 14(a) and 20(b) of the Securities Exchange Act of 1934 (the “Exchange Act”), in connection with the issuance of materially defective proxy materials and Schedule 13Ds and Schedule 13E3s which resulted in the approval of a cash out merger which delivered the totality of the equity of CXD to controlling insiders.

China XD Plastics Company Limited is a China-based specialty chemicals company, said on November 5, 2020 that its stockholders had approved the company's agreement to go private via a planned acquisition by Faith Dawn and its Faith Horizon subsidiary.

Under the deal, announced in June 2020, Faith Dawn will acquire all outstanding shares of the China XD Plastics, which focuses on polymer composite materials primarily for automotive applications, for a cash consideration then equal to $1.20 per share.

All investors who purchased shares of China XD Plastics Company Limited and object to the transaction are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.

If you hold in shares of China XD Plastics Company Limited, you may, no later than February 8, 2021, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of China XD Plastics Company Limited.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.