China Commercial

China Commercial: The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the for the District of New Jersey on behalf of investors who purchased China Commercial Credit, Inc. "China Commercial" or the "Company" /quotes/zigman/17901810/delayed /quotes/nls/cccr .31% common stock between November 14, 2013 and July 25, 2014. , according to Market Watch. The complaint alleges that China Commercial misled investors regarding its involvement in risky loans and loan guarantee obligations. In a February 18, 2014 Forbes article, China Commercial Chief Executive Officer was quoted as saying that " highly risky loans among microcredit companies in China are not widespread." Then on May 9, 2014, during a public offering, the Company sold 1,650,386 shares at $3.99 per share. In the prospectus China Commercial represented that it estimated its loss on its guarantee business to be about 1% of the contract amount. Then on July 25, 2014, China Commercial issued a press release stating that it had paid out $5.4 million in loan guarantees in Q1 2014 and $2.1 million in one-year notes from the borrowers; the Company also noted that it had paid out $3.7 million in guarantees in Q2 2014. NEW Aug 12, 2014 via - Click here to learn about the case: http://docs.wongesq.com/Info-Request-Form-352 . There is no cost or obligation to you. (news.financializer.com). As reported in the news.