Investigation Overview
August 25, 2015 (Shareholders Foundation) - An investigation on behalf of investors of ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) shares over potential securities laws violations by ChinaCache International Holdings 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 ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) concerning whether a series of statements by ChinaCache Internatnl Hldgs regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
ChinaCache Internatnl Hldgs Ltd reported that its annual Total Revenue increased from over $1.1 billion in 2013 to $1.38 billion in 2014 and that its Net Loss declined from $34.23 million in 2013 to $6.84 million in 2014.
Shares of ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) grew to as high as $15.53 per share on June 10, 2015.
On August 20, 2015, ChinaCache International Holdings announced its second quarter 2015 financial results. Chairman and Chief Executive Officer of ChinaCache Internatnl Hldgs Ltd, Mr. Song Wang, disclosed that ChinaCache International Holdings is currently experiencing some platform issues, which have impacted its top-line recently.
Shares of ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) declined to as low as $4.69 per share on August 24, 2015.