Abraham, Fruchter & Twersky, LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities that purchased the stock of ChinaCast Education Corporation ("ChinaCast" or the "Company") (NASDAQ: CAST) between February 14, 2011 through April 2, 2012, inclusive (the "Class Period"), alleging violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder against the Company and certain of its officers (the "Complaint").

ChinaCast Education Corporation, together with its subsidiaries, provides post-secondary education and e-learning services in China. The Complaint alleges that the Company and certain of its executive officers issued false and/or misleading statements concerning the Company's business and financial prospects. Specifically, the Complaint alleges that defendants failed to disclose that (1) the Company permitted Mr. Chan and other employees to engage in the wrongful transfer of at least $120 million from two CAST subsidiaries' bank accounts; (2) the Company permitted wrongful transfers of the Company's assets to unauthorized entities, including two private colleges (3) the Company permitted loans to third parties secured by Company assets; and (4) the Company's internal controls were deficient.

On April 2, 2012, NASDAQ halted trading of the Company's stock until it received "additional information requested." On April 19, 2012, the Company revealed additional findings impacting the accuracy of the Company's financial statements in their Form 8-K filing with the Securities and Exchange Commission related to the transfers of Company assets to unauthorized persons.

If you purchased common stock of ChinaCast between February 14, 2011 and April 2, 2012, inclusive, and you wish to serve as lead plaintiff in this action, you must move the Court no later than July 25, 2012. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed class.

If you would like to discuss this action or if you have any questions concerning this notice or your rights as a potential class member or lead plaintiff, you may contact: Jeffrey S. Abraham or Arthur J. Chen of Abraham, Fruchter & Twersky, LLP toll free at (800) 440-8986, or via e-mail at, respectively, jabraham@aftlaw.com or achen@aftlaw.com. You may also visit the firm's website at http://www.aftlaw.com.

Abraham, Fruchter & Twersky, LLP has extensive experience in securities class action cases, and the firm has been ranked among the leading class action law firms in terms of recoveries achieved by surveys of class action law firms conducted by Institutional Shareholder Services.

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Abraham, Fruchter & Twersky, LLP
Jeffrey S. Abraham
jabraham@aftlaw.com
or
Arthur J. Chen
achen@aftlaw.com
Phone: (800) 440-8986