LOS ANGELES, March 11, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against China TechFaith Wireless Communication Technology Limited (“China TechFaith” or “the Company”) (NASDAQ: CNTF) violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between July 12, 2018 and December 19, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before March 11, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. China TechFaith made an arrangement to sell a wholly-owned subsidiary that would be considerably less lucrative for the Company than it portrayed to investors. The Company failed to inform investors of changing market conditions that would impact profitability negatively. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about China TechFaith, investors suffered damages.
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