Amid U.S. scrutiny of Chinese companies listed on U.S. exchanges, American shareholders recently filed a class-action lawsuit against China Xinda Plastic Company Limited (China XD), which is listed on the Nasdaq.
On July 7, New York-based law firm Brodsky and Smith filed a lawsuit on behalf of shareholders at a federal court in Manhattan, New York City, alleging that a recent merger deal was “a result of an unfair process for an unfair price, and to enjoin the proposition to take the Company off the NASDAQ and become a privately owned company,” according to a court document.
