Glancy Prongay Wolke & Rotter LLP announced on March 24 that investors who suffered losses in China Liberal Education Holdings Limited (CLEUF) have the opportunity to lead a securities fraud class action lawsuit. The law firm said the complaint alleges that, between January 22 and January 30, 2025, defendants did not disclose key information about CLEU shares.
The case is significant because it centers on claims that CLEU shares were involved in a pump-and-dump scheme. According to the complaint, certain transactions—the December 2024 Issuance and the Warrant Exchange Agreement—were allegedly not genuine but instead intended to place shares with individuals described as the Cedric Indictees and their co-conspirators for use in this scheme. As a result, positive statements made by defendants about CLEU’s business and prospects are alleged to have been materially misleading or lacking reasonable basis during the relevant period.
Investors interested in participating must act before March 31, which is set as the lead plaintiff deadline. The announcement states: “If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.” Contact details for Charles Linehan at Glancy Prongay Wolke & Rotter LLP are provided for those seeking more information.
The press release notes that no immediate action is required from potential class members unless they wish to retain counsel of their choice or remain an absent member of the class action. It also reminds readers that “this press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.”
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