Posts Tagged ‘Securities and Exchange Commission’

LightInTheBox Says Allegations Of Violations Are Without Merit

Beijing-based e-commerce firm LightInTheBox Holding Company Ltd. is facing a possible securities class action lawsuit against it and some of its senior officers. Law firm Robbins Geller Rudman & Dowd LLP says that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of […]


China’s Tudou.com Reinvigorates IPO Plans As CEO Settles Marital Dispute

Amid a thunderous drop in Chinese companies’ market capitalization in recent weeks, Tudou.com has filed an amendment to its filing for an initial public offering in the United States to raise money for its online video operations in China. In filings issued hours ago, Tudou Holdings Limited says a lawsuit between Chairman and CEO Gary […]


China Information Technology’s CFO Abruptly Leaves Company

Nasdaq shares of China Information Technology Inc. plummeted more than 20% last Friday after the company announced the abrupt departure of its chief financial officer. The Shenzhen-based geographic information systems provider said Friday that Jackie You Kazmerzak would resign from her post as chief financial officer effective today to pursue another career opportunity. The company […]


Longtop’s CFO Quits As Chinese Software Company’s Auditor Resigns

In the middle of flak concerning alleged securities fraud, Chinese financial services software firm Longtop Financial Technologies Limited announced that its chief financial officer, Derek Palaschuk, who was previously CFO at Chinese Internet firms Sohu.com and eLong.com, has resigned. Palaschuk, a Canadian working for the southern Chinese software company since around the time of its […]


Bribery Is "Made In China" For IBM

The U.S. Securities and Exchange Commission charged IBM with funneling gifts, cash, and entertainment to government officials in South Korea and China. Specifically, IBM was charged with violating the books and records and internal control provisions of the Foreign Corrupt Practices Act of 1977 as a result of the provision of improper cash payments, gifts, […]


Ctrip.com Ups Ante On Chinese Budget Hotel Growth

Chinese Internet travel service provider Ctrip.com (CTRP) is betting on more offline revenue growth as it is raising its stake in China’s economy hotel chain Home Inns & Hotels (HMIN) to 8.72% from the previous 7.55%.