Law Offices of Howard G. Smith, representing investors of Ambow Education Holding Ltd. (“Ambow” or the “Company”) (NYSE:AMBO), has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of a class consisting of all persons or entities who purchased the American Depositary Shares (“ADS”) of Ambow between May 18, 2011 and May 16, 2012, inclusive (the “Class Period”). Ambow provides educational and career enhancement services in the People’s Republic of China.
The Complaint alleges that Ambow and certain of its executive officers issued false and/or misleading statements about Ambow’s business, operations and prospects, including that: (1) certain of the Company’s distributors did not have an adequate history of timely payment; (2) as such, the collection of resulting receivables from these distributors was not reasonably assured; (3) as a result, the Company was improperly recognizing revenue on sales to these distributors; (4) the Company was improperly accounting for certain business acquisitions; (5) as a result of the foregoing, the Company’s financial results were misstated during the Class Period; (6) the Company lacked adequate internal and financial controls; and (7), as a result of the above, the Company’s financial results were materially false and misleading at all relevant times.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Ambow ADSs between May 18, 2011 and May 16, 2012, you have until August 10, 2012, to move for lead plaintiff status. To be a member of the class you need not take action at this time; you may retain counsel of your choice or take no action and remain an absent class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to firstname.lastname@example.org or visit our website at http://www.howardsmithlaw.com.