June 9, 2015 (Shareholders Foundation) - An investigation on behalf of investors of China Finance Online Co. (ADR) (NASDAQ:JRJC) shares over potential securities laws violations by China Finance Online Co. and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of China Finance Online Co. (ADR) (NASDAQ:JRJC) concerning whether a series of statements by China Finance Online Co. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

China Finance Online Co. reported that its annual Total Revenue rose from $29.60 million in 2012 to $83.70 million in 2014 and that its Net Loss of $46.62 million in 2012 declined to a Net Loss of $7.17 million in 2014.

On June 3, 2015, a report was published asserted among other things, that the most current SAIC records show Chairman and CEO Zhiwei Zhao suddenly resigned from his positions at three key Chinese VIE subsidiaries of China Finance Online Co. over the past few months, that Chinese media reports exposing the detention of China Finance Online Co. independent director Rongquan Leng prompted China Finance Online Co. to announce his resignation, without addressing his alleged detention;, and that Ling Wang, a former long-time China Finance Online Co. director and associate of Zhao, fled China in 2014, leaving his company indebted to China Finance Online Co. for $25 million.

On June 4, 2015, China Finance Online Co. responded to the allegations and said that the report contains numerous errors of facts, misleading speculations and malicious interpretations of events.

Shares of China Finance Online Co. (ADR) (NASDAQ:JRJC) declined on June 4, 2015 to as low as $3.90 per share.