April 24th Deadline in Lawsuit for Investors in NASDAQ: CETX Shares Against Cemtrex Inc. Announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / April 13, 2017 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain purchasers of NASDAQ: CETX shares against Cemtrex Inc. over alleged Securities Laws Violations.

Investors, who have losses in excess of $50,000 from their investment between February 11, 2016 and February 22, 2017 in shares of Cemtrex Inc. (NASDAQ: CETX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

On February 22, 2017, an article was published on Cemtrex Inc. alleging that over $1 million has been paid to stock promoters to promote Cemtrex Inc. The report alleged that Cemtrex’s founder was secretly paying promoters behind imploded frauds like Forcefield Energy and Code Rebel via an undisclosed entity and that insiders of Cemtrex Inc. have been heavily selling shares during the paid promotion without disclosing them.

On February 24, 2017, a lawsuit was filed against Cemtrex Inc. over alleged violations of securities laws. The plaintiff claims that the Defendants failed to disclose that Cemtrex’s banker Source Capital was at risk of having its registrations terminated for wrongdoing, that Cemtrex Inc. was utilizing paid stock promoters to artificially inflate the price of the Company’s stock, that Aron Govil, a member of the Company’s Board of Directors, was secretly paying stock promoters via an undisclosed entity, that Company insiders were selling their stock during the paid promotion, taking advantage of the artificially inflated stock price, that the Company’s purported audit firm claimed to operate at a location that was actually vacant, that the controlling partner behind the Company’s auditor was banned by the SEC and PCAOB for conducting fraudulent audits or reviews of public companies while performing little or no work and without being licensed, that the Company’s auditor was signing off on the Company’s financial disclosures without conducting a proper review, and that, as a result of the foregoing, Defendants’ statements about Cemtrex’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On March 2, 2017, Cemtrex Inc. announced it intends to defend itself against the claims.

Those who purchased shares of Cemtrex Inc. (NASDAQ: CETX) should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:

Shareholders Foundation, Inc.

Michael Daniels

+1 (858) 779-1554

mail@shareholdersfoundation.com

3111 Camino Del Rio North

Suite 423

San Diego, CA 92108

SOURCE: Shareholders Foundation, Inc.

ReleaseID: 459639