|Company name||China TechFaith Wireless Ltd.|
|Class period||July 12, 2018 – December 19, 2018|
|Lead plaintiff deadline||March 11, 2019|
|Court||Eastern District of New York|
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) China Techfaith’s agreement to sell its wholly-owned subsidiary would not be as lucrative as it led investors to believe; (2) China Techfaith failed to adequately disclose that changing market conditions would negatively impact profitability; and (3) as a result, defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.