Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Deutsche Boerse AG  >  Fanhua Inc (ADR)    

FANHUA INC (ADR)

SummaryNewsCalendarCompany 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

CNinsure Inc. : The Law Firm of Levi & Korsinsky Notifies Investors with Losses on Their Investment in CNinsure Inc. of Class Action Lawsuit

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/19/2011 | 05:35pm EDT

NEW YORK, Oct. 19, 2011 /PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of CNinsure Inc. ("CNinsure" or the "Company") (NASDAQ: CISG) American Depositary Shares between March 2, 2010 and September 14, 2011 (the "Class Period").  

For more information, click here: http://zlk.9nl.com/cninsure-cisg/.

The complaint alleges that CNinsure and certain of its officers and directors issued materially false and misleading statements regarding the Company's business and prospects.  Specifically, the complaint alleges that defendants misrepresented and/or failed to disclose that: (a) the Company was materially overstating its net income by understating the costs associated with the Company's scorecard system; (b) the Company failed to account for incentives provided to the Company's agents as costs since those incentives were reasonably likely to be tendered at a future date; and (c) as a result of the aforementioned, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.

On December 2, 2010, an analyst report by OLP Global LLC claimed that the Company may have understated commission expenses and overstated net income as a result of the way the Company incentivizes its agents.  In reaction to the report, the price of CNinsure American Depositary Shares fell more than 20 percent.

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://www.zlk.com.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.  For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT: 
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free:  (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

SOURCE Levi & Korsinsky

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FANHUA INC (ADR)
09/03FANHUA INC (ADR) : Ex-dividend day for
FA
08/20FANHUA : 2Q Earnings Snapshot
AQ
08/20Fanhua Announces Quarterly Cash Dividend of US$0.30 per ADS for the Second Qu..
GL
08/20Fanhua Reports Second Quarter and First Half 2019 Unaudited Financial Results
GL
08/12Fanhua Provides Update on its Share Buyback Program for the Week of August 5,..
GL
08/06Fanhua to Announce Second Quarter and First Half 2019 Unaudited Financial Res..
GL
08/05Fanhua Provides Update on its Share Buyback Program for the Week of July 29, ..
GL
07/29Fanhua Provides Update on its Share Buyback Program for the Week of July 22, ..
GL
07/15Fanhua Provides Update on its Share Buyback Program for the Week of July 8, 2..
GL
07/08Fanhua Provides Update on its Share Buyback Program for the Week of July 1, 2..
GL
More news
Chart FANHUA INC (ADR)
Duration : Period :
Fanhua Inc (ADR) Technical Analysis Chart | MarketScreener
Full-screen chart
Managers
NameTitle
Chun Lin Wang Chairman & Chief Executive Officer
Peng Ge Chief Financial Officer & Director
Yin An Hu Director
Meng Bo Yin Independent Director
Stephen Markscheid Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
FANHUA INC (ADR)1 492
PROGRESSIVE CORPORATION25.99%44 435
PICC PROPERTY & CASUALTY CO., LTD.17.23%26 644
TRYG A/S22.76%9 044
ADMIRAL GROUP PLC4.89%7 224
PORTO SEGURO SA11.77%4 470