Robbins umeda llp announces an investigation of china automotive systems, inc.

San diego--(business wire)--robbins umeda llp, a shareholder rights litigation firm, has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at china automotive systems, inc. (nasdaq: caas). china automotive manufactures and sells power steering systems and other component parts for the automotive industry in the peoples republic of china. the company was founded in 2003. it is incorporated in delaware and headquartered in jing zhou city, the peoples republic of china. if you own stock in china automotive and would like more information about your shareholder rights, please contact attorney gregory e. del gaizo at 800-350-6003 or by e-mail at info@robbinsumeda.com. those who inquire by e-mail are encouraged to include their mailing address and telephone number. on march 17, 2011, china automotive announced that it would delay filing its annual financial statement and would need to restate its previously issued financial statements for the fiscal year 2009 and the first three quarters of fiscal year 2010 due to errors in its accounting treatment for the company's convertible notes issued on february 15, 2008. the audit committee of the board of directors of china automotive has said that these statements should no longer be relied upon. on march 18, 2011, the company announced that it received a notification letter from nasdaq, stating that the company is no longer in compliance with nasdaq marketplace rules, which require timely filing of u.s. securities and exchange commission periodic reports. china automotive has 60 calendar days, or until may 16, 2011, to submit a plan to nasdaq to regain compliance. robbins umeda llp represents individual and institutional shareholders in derivative, direct, and class action lawsuits. the law firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career shareholder rights attorneys. robbins umeda llp has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. for more information, please go to http://www.robbinsumeda.com. press release link: http://www.robbinsumeda.com/shareholders-rights-blog/china-automotive-systems/ attorney advertising. past results do not guarantee a similar outcome.
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