IRVINE, Calif.--(BUSINESS WIRE)--

Khang & Khang LLP (the “Firm”) announces a securities class action lawsuit against Pingtan Marine Enterprise Ltd. (“Pingtan” or the “Company”) (Nasdaq: PME). Investors who purchased or otherwise acquired shares between August 8, 2016 and May 10, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm in advance of the August 22, 2017 lead plaintiff motion deadline.

If you purchased Pingtan shares during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at [email protected].

There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.

According to the Complaint, during the Class Period, Pingtan made false and/or misleading statements and/or failed to disclose that: Pingtan is banned from Indonesia; that the Company has used investor capital to finance illegal activity; and that as a result, Pingtan’s public statements were materially false and misleading at all relevant times. On May 10, 2017, Aurelius Value published a report alleging that the Company is specifically banned from Indonesia and that it used investor capital to finance widespread illegal activity. When this information reached the public, shares of Pingtan lowered in value materially, which caused investors harm according to the Complaint.

If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at [email protected].

This press release may constitute Attorney Advertising in some jurisdictions.

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