China Zenix Auto International Limited (NYSE: ZX) Investor Securities Class Action Lawsuit 10/31/2018

If you purchased shares of China Zenix Auto International Limited (NYSE: ZX), you have certain options and for certain investors are short and strict deadlines running. Deadline: December 31, 2018. NYSE: ZX 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): 
China Zenix Auto
Case Name: 
China Zenix Auto Shareholder Class Action Lawsuit 10/31/2018
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: ZX
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
10/31/2018
Class Period Begin: 
10/02/2015
Class Period End: 
06/14/2018
Court of Filing: 
U.S. District Court for the District of New Jersey
Deadline To File for Lead: 
12/31/2018
Summary: 

An investor in shares of China Zenix Auto International Limited (NYSE: ZX) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by China Zenix Auto International Limited in connection with certain allegedly false and misleading statements made between October 2, 2015 through June 14, 2018.

Zhangzhou, China based China Zenix Auto International Limited designs, manufactures, and sells commercial vehicle wheels to aftermarket and original equipment manufacturers in the People's Republic of China and internationally. China Zenix Auto International Limited reported that its annual Total Revenue rose from 323.69 million CNY in 2016 to 434.73 million CNY in 2017 and that its Net loss of 3.73 million CNY in 2016 turned into a Net Income of 1.39 million CNY in 2017.

On June 15, 2018, China Zenix Auto International Limited announced that the NYSE decided to delist the company's stock from its exchange, effective as of June 14, 2018. Shares of China Zenix Auto International Limited (NYSE: ZX) closed on June 14, 2018, at $1.38 per share.

According to the complaint the plaintiff alleges on behalf of purchasers of China Zenix Auto International Limited (NYSE: ZX) common shares between October 2, 2015 through June 14, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 2, 2015 through June 14, 2018, the defendants made false and/or misleading statements and/or failed to disclose that China Zenix’s trading actions in connection with its compliance with the NYSE Continued Listed Requirements were contrary to public policy, that China Zenix had inadequate internal controls over financial reporting, and that as a result of the foregoing, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.