Thieler Law Corp advises investors with losses exceeding $100,000 of the August 4, 2015 lead plaintiff deadline in a class action lawsuit filed against China Finance Online Co Ltd (NASDAQ:  JRJC) (“China Finance” or “the Company”). The suit is pending in the U.S. District Court for the Central District of California and investors, who purchased China Finance American Depositary Shares (ADS) between May 6, 2014 and June 3, 2015, have until August 4, 2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased China Finance securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 866-6157 or emailing mail@thielerlaw.com. No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that China Finance’s Chairman of the Board of Directors and Chief Executive Officer, Zhiwei Zhao, had an indirect equity interest in Langfang Developer at the time of the Company’s investment and that Zhiwei Zhao suddenly resigned from his positions at three key Chinese Variable Interest Entities of China Finance.  The complaint then claims that due to lack of these disclosures, China Finance’s public statements were materially false and misleading at all relevant times.

On June 3, 2015, a report was published revealing Zhao’s sudden resignation, alleging that Chinese media reports exposed the detention of China Finance’s independent director Rongquan Leng prompting the Company to announce his resignation, without addressing his alleged detention.  Further in the report it was also stated that Ling Wang, a former long-time China Finance director and associate of Zhao, fled China in 2014, leaving his company indebted to the Company for $25 million.

On June 4, 2015, China Finance responded to the allegations and said that the report contains numerous errors of facts, misleading speculations and malicious interpretations of events.

American Depositary Shares (ADS) of China Finance Online Co Ltd (NASDAQ: JRJC) dropped on June 4, 2015 to a low of $3.90 per share.

If you were negatively impacted by your investment in China Finance securities between May 6, 2014 and June 3, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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