The CLEU Action alleges, among other things, that the defendants, at least some of whom belong to a criminal syndicate, orchestrated a "pump-and-dump" scheme to defraud investors in CLEU. This scheme required the active cooperation of the Company's management and service providers and ultimately resulted in losses estimated to exceed $300 million.
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired CLEU common stock during the Class Period to seek appointment as lead plaintiff of the putative class in the CLEU Action. Investors are not required to seek appointment as lead plaintiff in order to share in a future recovery obtained in the CLEU Action. As of the date of this release, the plaintiffs in the CLEU Action intend to apply to the court for appointment as lead plaintiffs as well as the appointment of Morris Kandinov LLP as lead counsel.
To learn more about this investigation and your rights, visit: https://moka.law/case-contact-form/. All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
Morris Kandinov LLP is a national law firm that represents individual and institutional investors in cases involving fraud and fiduciary misconduct. For further information, contact:
Leo Kandinov, Partner
leo@moka.law
619-780-3993
550 West B Street, 4th Floor
San Diego, CA 92101
Attorney Advertising. Past results do not guarantee a similar outcome.

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