China Integrated Energy Investors Denied Class Cert.

By Jeff Sistrunk (August 4, 2014, 4:47 PM EDT) -- A California federal judge on Monday refused to certify a class of China Integrated Energy Inc. shareholders who allege the company misstated its 2009 revenue in a regulatory filing, ruling that the plaintiffs failed to prove that the putative class relied on the company's alleged misrepresentations because they cited a flawed expert declaration.

U.S. District Judge Beverly Reid O' Connell denied without prejudice the shareholders' motion for class certification and granted the defendants' motion to exclude the declarations and testimony of two of the plaintiffs' experts.

Because one of the experts is unqualified and the other used a flawed methodology to...

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