CHINA ZENIX LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In China Zenix Auto International Limited To Contact The Firm

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Dec 13, 2018, 18:04 ET

NEW YORK, Dec. 13, 2018 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in China Zenix Auto International Limited ("China Zenix" or the "Company") (OTC: ZXAIY) of the December 31, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in China Zenix stock or options between October 2, 2015 and June 14, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/ZX. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected].

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26^th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
[email protected]
Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased China Zenix securities between October 2, 2015 and June 14, 2018 (the "Class Period"). The case, Zhengyu He v. China Zenix Auto International Limited, Inc., No. 18-cv-15530 was filed on October 31, 2018.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making materially false and/or misleading statements and/or failed to disclose that: (1) China Zenix's trading actions in connection with its compliance with the NYSE Continued Listed Requirements were contrary to public policy; (2) China Zenix had inadequate internal controls over financial reporting; and (3) as a result of the foregoing, the Company's statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Specifically, on June 14, 2018, the New York Stock Exchange ("NYSE") suspended trading in China Zenix securities and commenced delisting proceedings. The NYSE issued a press release stating, in part, that "[t]he determination to delist the Company was based on an investigation conducted by NYSE Regulation that brought to light the existence of evens that made further dealings or listing of the securities on the [NYSE] contrary to the public interest and not in keeping with sound public policy, pursuant to Section 802.01D of the Listed Company Manual."

After the announcement, China Zenix's share price fell from $1.38 per share on June 14, 2018 to a closing price of $0.80 on June 18, 2018—a $0.58 or a 42.03% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. 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. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding China Zenix's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

SOURCE Faruqi & Faruqi, LLP