SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of China Finance Online Co., Ltd. – JRJC

NEW YORK, NY / ACCESSWIRE / June 12, 2015 / Pomerantz LLP is investigating claims on behalf of investors of China Finance Online Co., Ltd (“China Finance” or the “Company”) (NASDAQ: JRJC).  Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237.

The investigation concerns whether China Finance and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. 

On June 3, 2015, a report published by GeoInvesting, LLC asserted among other things, that:  (1) the most current SAIC records show Chairman and CEO Zhiwei Zhao suddenly resigned from his positions at three key Chinese VIE subsidiaries of JRJC over the past few months; (2) Chinese media reports exposing the detention of JRJC independent director Rongquan Leng prompted JRJC to announce his resignation, without addressing his alleged detention; and (3) Ling Wang, a former long-time JRJC director and associate of Zhao, fled China in 2014, leaving his company indebted to JRJC for $25 million.

On this news, shares of China Finance fell $0.46 per share, to $5.49, or more than 7.68%, on June 3, 2015.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

SOURCE: Pomerantz LLP

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