Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,424.85 162.29 1.00%
S&P 500 1,862.31 19.33 1.05%
NASDAQ 4,086.22 52.06 1.29%
Ticker Volume Price Price Delta
STOXX 50 3,129.39 -9.87 -0.31%
FTSE 100 6,587.63 3.46 0.05%
DAX 9,304.61 -13.21 -0.14%
Ticker Volume Price Price Delta
NIKKEI 14,417.53 -0.15 -0.00%
TOPIX 1,166.59 0.04 0.00%
HANG SENG 22,760.24 64.23 0.28%

Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Ambow Education Holding Ltd.



  Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Ambow
  Education Holding Ltd.

Business Wire

BENSALEM, Pa. -- June 12, 2012

Law Offices of Howard G. Smith, representing investors of Ambow Education
Holding Ltd. (“Ambow” or the “Company”) (NYSE:AMBO), has filed a class action
lawsuit in the United States District Court for the Central District of
California on behalf of a class consisting of all persons or entities who
purchased the American Depositary Shares (“ADS”) of Ambow between May 18, 2011
and May 16, 2012, inclusive (the “Class Period”). Ambow provides educational
and career enhancement services in the People’s Republic of China.

The Complaint alleges that Ambow and certain of its executive officers issued
false and/or misleading statements about Ambow’s business, operations and
prospects, including that: (1) certain of the Company’s distributors did not
have an adequate history of timely payment; (2) as such, the collection of
resulting receivables from these distributors was not reasonably assured; (3)
as a result, the Company was improperly recognizing revenue on sales to these
distributors; (4) the Company was improperly accounting for certain business
acquisitions; (5) as a result of the foregoing, the Company’s financial
results were misstated during the Class Period; (6) the Company lacked
adequate internal and financial controls; and (7), as a result of the above,
the Company’s financial results were materially false and misleading at all
relevant times.

No class has yet been certified in the above action. Until a class is
certified, you are not represented by counsel unless you retain one. If you
purchased Ambow ADSs between May 18, 2011 and May 16, 2012, you have until
August 10, 2012, to move for lead plaintiff status. To be a member of the
class you need not take action at this time; you may retain counsel of your
choice or take no action and remain an absent class member. If you wish to
discuss this action or have any questions concerning this Notice or your
rights or interests with respect to these matters, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite
112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at
(888)638-4847, by email to howardsmith@howardsmithlaw.com or visit our website
at http://www.howardsmithlaw.com.

Contact:

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215) 638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement