Robbins Umeda LLP Announces the Filing of a Class Action Lawsuit Against China Century Dragon Media, Inc.

Robbins Umeda LLP, a shareholder rights litigation firm, announces that a class action lawsuit has been filed on behalf of all persons or entities who purchased the common stock of China Century Dragon Media, Inc. (NYSE Amex: CDM) between February 8, 2011 and March 26, 2011 (the "Class Period").

China Century is a television advertising company that engages in the promotion, sale, and marketing of advertising packages on China television stations. The company was incorporated in 2009 in Delaware, and is headquartered in Huizhou City, Guangdong Province, China.

The lawsuit alleges that during the Class Period, China Century, its officers and directors, and certain underwriters violated federal securities laws by issuing materially false and misleading information in the company's public offering documents.

On March 21, 2011, trading of China Century shares was halted. On March 28, 2011, China Century announced that its independent auditor, MaloneBailey LLP, resigned and had withdrawn its prior audit opinions of the company's financial statements for 2008 and 2009. MaloneBailey informed China Century that "due to discrepancies noted on customer confirmations and the auditor's inability to directly verify the company's bank records, they believe these irregularities may be an indication that the accounting records have been falsified, which would constitute an illegal act."

China Century was also recently notified by the U.S. Securities and Exchange Commission ("SEC") that it has initiated a formal, non-public investigation into whether the company had made material misstatements or omissions concerning its financial statements. On March 24, 2011, the SEC served China Century a subpoena for documents relating to the matters under review by the SEC.

If you own shares in China Century and would like more information about your shareholder rights, please contact Gregory E. Del Gaizo at 800-350-6003 or via the shareholder information form on our website.

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. For more information, please go to http://www.robbinsumeda.com.

Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/china-century-dragon-media/

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