The Law Offices of Todd M. Garber announces that shareholders of Ambow Education Holding Ltd. (“Ambow” or the “Company”) (NYSE:AMBO) have until August 10, 2012 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the Central District of California against Ambow and certain of its executive officers. The lawsuit was filed on behalf of a class (the “Class”) comprising all persons or entities who purchased the American Depositary Shares (“ADSs”) of Ambow between May 18, 2011 and May 16, 2012, inclusive (the “Class Period”).
The Complaint alleges violations of federal securities laws by Ambow and certain of the Company’s officers. The Complaint alleges that throughout the Class Period the defendants false and/or misleading statements and failed to disclose material adverse facts about Ambow’s business, operations and prospects. Specifically, the Complaint alleges that the defendants misrepresented and/or failed to disclose 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.
If you purchased Ambow American Depositary Shares between May 18, 2011 and May 16, 2012, you may move the Court no later than August 10, 2012 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time. You may retain counsel of your choice or take not 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 Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.
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