Feb 20, 2013 06:39 PM

Shareholders of Looted Firm Sue Auditor in NY Court

By staff reporter Shen Hu

(Beijing) – Ten shareholders of a Chinese company delisted from the Nasdaq have filed a lawsuit against the company's auditor in a U.S. court in New York.

They are seeking compensation equivalent to the difference between the cost of buying the shares and the present value, said Derek Feng Yiyi, chairman of delisted ChinaCast Education Corp.

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