NEW YORK, April 20, 2012 (GLOBE NEWSWIRE) -- Gainey & McKenna and the Egleston Law Firm today announced that a class action has been commenced on behalf of an investor in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of China Natural Gas, Inc. ("China Natural" or the "Company") (Pink Sheets:CHNG) between March 10, 2010 and September 21, 2011, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act").
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Thomas J. McKenna, Esq. of Gainey & McKenna at (212) 983-1300, or via e-mail at firstname.lastname@example.org or Gregory M. Egleston, Esq. of the Egleston Law Firm at (212) 683-3400, or via e-mail at email@example.com. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The Complaint alleges that, during the Class Period, as revealed through the restatements of the Company's 2009 and 2010 year-end financial statements, and the Company's 2010 and 2011 interim financial statements, Frazer Frost, LLP (now known as Frost, PLLC) and Friedman, LLP (the auditors of the Company's financial statements during the Class Period) materially misstated the Company's financial position and materially misstated facts regarding related party and other transactions.
Plaintiff seeks to recover damages on behalf of all purchasers of China Natural common stock during the Class Period (the "Class"). The plaintiff is represented by Gainey & McKenna and the Egleston Law Firm (http://www.gme-law.com), whose attorneys have decades of experience in prosecuting securities class actions and investor class actions throughout the United States.
CONTACT: Thomas J. McKenna, Esq. Gainey & McKenna (212) 983-1300 firstname.lastname@example.org Gregory M. Egleston, Esq. Egleston Law Firm (212) 683-3400 email@example.com