NEW YORK, Dec. 28, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of China Telecom Corp. Ltd ("China Telecom" or the "Company") (NYSE: CHA). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether China Telecom and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On December 27, 2015, China's Central Commission for Discipline Inspection, the Chinese Communist Party's top anticorruption agency, detained the company's chairman, Chang Xiaobing, on suspicion of "severe disciplinary violations," the Commission's byword for corruption allegations.
On this news, the company's stock has fallen as much as $1.16, or 2.4%, to $46.70 during intraday trading on December 28, 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.
Robert S. Willoughby
SOURCE Pomerantz LLP