Class action lawsuits filed against BVI corporation, seeking to recover damages

Investors were reminded by Bronstein, Gewirtz & Grossman, LLC that a class action lawsuit had been filed against BVI-incorporated company China TechFaith Wireless Communication Technology Limited and some of its officers. The complaint, initiated on behalf of shareholders who acquired China TechFaith shares between July 12, 2018 through December 19, 2018, has the purpose to recover damages for the following alleged violations: the BVI company made materially false and misleading statements about the profitability of its agreement to sell its wholly-owned subsidiary, failed to adequately disclose the impact of changing market conditions, and made misleading statements about its business, operations and prospects.

Along with Bronstein, Gewirtz & Grossman, LLC corporate litigation boutique, BVI company’s shareholders are represented by the Schall Law Firm, a national shareholder rights litigation firm which announced filing of a class action lawsuit against China TechFaith Wireless Communication Technology Limited , and encouraged investors with losses over US$100,000 to contact the firm.

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