Camelot Information Systems Inc (ADR) Investor Files Class Action Lawsuit Over Alleged Securities Laws Violations

If you purchased American Depositary Shares ("ADSs") of Camelot Information Systems Inc (ADR) (NYSE: CIS) between July 21, 2010 and August 17, 2011, including those who acquired NYSE: CIS ADSs pursuant or traceable to Camelot Information Systems’ Registration Statements and Prospectuses issued in connection with its July 21, 2010 initial public offering and December 10, 2010 Secondary Offering, you have certain options and there are strict and short deadlines running. Deadline: March 2, 2012. NYSE CIS ADR investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Camelot Information Systems
Case Name: 
Camelot Information Systems Shareholder Class Action 01/05/2012
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: CIS
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
01/05/2012
Class Period Begin: 
07/21/2010
Class Period End: 
08/17/2011
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
03/02/2012
Summary: 

An investor in Camelot Information Systems Inc (ADR) (NYSE:CIS) filed a lawsuit in the United States District Court for the Southern District of New York against Camelot Information Systems Inc. over alleged Violations of Federal Securities Laws.

According to the complaint the plaintiff alleges that behalf of purchasers of Camelot Information Systems Inc. ADSs between July 21, 2010 and August 17, 2011, including those who acquired Camelot Information Systems ADSs pursuant or traceable to the Company's Registration Statements and Prospectuses issued in connection with its July 21, 2010 initial public offering and December 10, 2010 Secondary Offering, that Camelot Information Systems Inc, certain of its officers and directors and the underwriters of the Offerings violated the Securities Act of 1933 and the Securities Exchange Act of 1934.
On July 21, 2010, Camelot Information Systems announced the pricing of its IPO at $11.00 per NYSE CIS ADR. Subsequently, on December 9, 2010, Camelot Information Systems announced the pricing of its Secondary Offering at $19.50 per NYSE CIS ADR.

Camelot Information Systems Inc reported that its annual Revenue rose from $51.38million for 2007 to $192.86million in 2010 and its Net Income increased over the same time periods from $7.29million to $18.60million.

Camelot Information Systems Inc (ADR) reported that its third quarter Revenue rose from $44.07million last year to $59.40million this year. However, its third quarter Net Income fell from $3.37million to $2.88million.
Shares of Camelot Information Systems Inc (ADR) (Public, NYSE:CIS) rose from $10.77 on July 23, 2010 to $26.73 per share on January 7, 2011.
Then on August 15, 2011, so the plaintiff, an article quested several key components of Camelot Information Systems' business. On August 18, 2011, Camelot Information Systems Inc issued a press release announcing its second quarter 2011 unaudited financial results, including guidance for fiscal 2011.
Camelot's ADSs dropped $2.24 per share to close at $6.32 per share on August 18, 2011
On November 23, 2011 NYSE CIS shares traded as low as $1.78 per share. In fact, since January 2011 NYSE: CIS shares lost significantly value and traded recently at about 90% less value than in early 2011.