Zhiwei Zhao and China Finance

Geo Investing, LLC: On June 3, 2015, a report published by Geo Investing, LLC asserted among other things, that: the most current SAIC records show Chairman and CEO Zhiwei Zhao suddenly resigned from his positions at three key Chinese VIE subsidiaries of JRJC over the past few months; Chinese media reports exposing the detention of JRJC independent director Rongquan Leng prompted JRJC to announce his resignation, without addressing his alleged detention; and Ling Wang, a former long-time JRJC director and associate of Zhao, fled China in 2014, leaving his company indebted to JRJC for $25 million, according to Market Watch. On this news, shares of China Finance fell $0.46 per share, to $5.49, or more than 7.68%, on June 3, 2015. The investigation concerns whether China Finance and certain of its officers and/or directors have violated Sections 10 and 20 of the Securities Exchange Act of 1934. 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. 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. 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. (news.financializer.com). As reported in the news.