BHP's Incoming CEO Visits China Amid Pricing Dispute with CMRG 
China's AI Stocks Surge as Zhipu and MiniMax Hit Record Highs 
Pilots Fear Retaliation for Refusing Middle East Flights Amid Ongoing Conflict 
Deere & Company Agrees to $99 Million Settlement Over Right-to-Repair Dispute 
Pony.ai, Uber, and Verne Launch Europe's First Commercial Robotaxi Service in Zagreb 
Samsung Electronics Posts Eightfold Profit Surge Driven by AI Chip Demand 
NIO ES9 SUV Launch Sends HK Shares Down 7% Despite Bold Pricing Strategy 
Alibaba Shares Slide as Jefferies Slashes Price Target Over AI Spending and Business Losses 
Disney Plans to Cut 1,000 Jobs Amid Ongoing Restructuring Efforts 
Ford Issues Major Recall on Over 422,000 Vehicles Due to Windshield Wiper Defect 
Bank of America Identifies Top Asia-Pacific Semiconductor Stocks Poised for AI-Driven Growth 
Apple's Foldable iPhone Faces Engineering Setbacks, Mass Production Timeline at Risk 
Britain Courts Anthropic Amid US Defense Department Dispute 
Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes 
Kia Cuts EV Sales Target for 2030 Amid Slowing Demand and U.S. Policy Shifts 
LG Electronics Posts Record Q1 Revenue Amid Strong Demand and Cost Improvements 
Tokyo Electric Power Attracts Major Investors Amid Billion-Dollar Restructuring Push 
NEW YORK, Aug. 29, 2016 -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the District of New Jersey on behalf of investors who purchased RiT Technologies Ltd. (OTC MKTS:RITT) securities between March 3, 2015 and July 1, 2016.
Click here to learn about the case: http://www.wongesq.com/pslra/rit-technologies-ltd. There is no cost or obligation to you.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) RiT CIS Ltd. was RiT Technologies’ major distributor in Russia and the Commonwealth of Independent States region; (2) RiT CIS was vital to the viability of RiT Technologies; and (3) as a result, RiT Technologies’ public statements were materially false and misleading at all relevant times.
On February 11, 2016, RiT revealed that RiT CIS was “its major distributor in Russia and the CIS region” and was delaying payments to the Company, thus adversely impacting RiT’s current cash flow. Then on April 20, 2016, the Company announced that the collection progress for overdue debts was significantly lower than planned, and that the CFO of RiT Technologies had resigned effective immediately. Then on June 3, 2016, the Company announced the resignation of its President and CEO.
If you suffered a loss in RiT Technologies you have until September 26, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Vincent Wong, Esq. either via email [email protected], by telephone at 212.425.1140, or visit http://www.wongesq.com/pslra/rit-technologies-ltd.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Vincent Wong, Esq. 39 East Broadway Suite 304 New York, NY 10002 Tel. 212.425.1140 Fax. 866.699.3880 E-Mail: [email protected]
