Investors Win Class Cert. In Suit Over Ad Co.'s IPO

Law360, New York (December 20, 2012, 8:07 PM EST) -- A California federal judge on Tuesday certified a class of China Century Dragon Media Inc. shareholders who claim the U.S. advertising company inflated revenues from its commercials on Chinese television to boost its 2011 stock sale.

U.S. District Judge John A. Kronstadt certified the class of investors on three of the four claims they'd brought against former company executives, its auditor and the firms that underwrote China Century's initial public offering, over the company's filings with the U.S. Securities and Exchange Commission. Those filings allegedly listed...
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