Cases
Cemtrex, Inc. (NASDAQ: CETX)
Securities Class Action
Overview
Overview
- Date:
- 2/28/2017
- Company Name:
- Cemtrex, Inc.
- Stock Symbol:
- CETX
- Class Period:
- FROM 2/11/2016 TO 2/22/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Eastern District of New York
NEW YORK, February 28, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities who acquired Cemtrex, Inc. (NASDAQ: CETX) securities between February 11, 2016 and February 22, 2017 (the “Class Period”).
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) over $1 million has been paid to notorious stock promoters since late 2015; (2) the entity paying for the stock promotion was owned by Cemtrex’s founder, Aron Govil, and based out of Cemtrex’s corporate headquarters; (3) senior executives engaged in undisclosed insider selling; and (4) the Company retained a foreign accounting firm with a history of fraudulent endeavors to conduct its financial audits. As a result, Defendants’ statements about Cemtrex’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis throughout the Class Period.
If you purchased or otherwise acquired Cemtrex securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) over $1 million has been paid to notorious stock promoters since late 2015; (2) the entity paying for the stock promotion was owned by Cemtrex’s founder, Aron Govil, and based out of Cemtrex’s corporate headquarters; (3) senior executives engaged in undisclosed insider selling; and (4) the Company retained a foreign accounting firm with a history of fraudulent endeavors to conduct its financial audits. As a result, Defendants’ statements about Cemtrex’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis throughout the Class Period.
If you purchased or otherwise acquired Cemtrex securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.