Levi & Korsinsky announces the commencement of a class action lawsuit in the United States District Court for the Eastern District of New York on behalf of shareholders of Cemtrex, Inc. (NASDAQ : CETX) who purchased shares between December 7, 2016 and February 21, 2017.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) over $1 million has been paid to stock promoters since late 2015; (2) the entity paying for the stock promotion was owned by Defendant Aron Govil and based out of Cemtrex's corporate headquarters; (3) senior executives engaged in undisclosed insider selling; (4) the Company retained a foreign accounting firm with a history of fraudulent endeavors to conduct its financial audits; and (5) 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.
If you suffered a loss in Cemtrex, Inc. you have until April 25, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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