China Information Technology, Inc. under Investor Investigation

May 31, 2011 - PRLog -- The Shareholders Foundation announces that an investigation on behalf of investor in China Information Technology, Inc.  shares was initiated over possible violations of Federal Securities Laws.

If you purchased shares of China Information Technology, Inc. , and/or if you have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether China Information Technology, Inc. or others have violated federal securities laws by issuing false and misleading statements to its shareholders. Additionally the investigation concerns also whether certain directors and officers of China Information Technology, Inc. breached their fiduciary duties.

China Information Technology reported a substantial increase in its financial performance. China Information Technology’s 12months Total Revenue increased from $30.34million in 2007 to $163.85million in 2010. Its Net Income increased from $13.33million in 07 to $34.40million in 2010.

Shares of China Information Technology, Inc. (NASDAQ CNIT) traded as high as $5.05 per share in March 2011.

Then on May 27, 2011 China Information Technology, Inc.  announced that Ms. Jackie You Kazmerzak will resign from her post as Chief Financial Officer effective May 30, 2011 to pursue another career opportunity.

CNIT stock fell from $2.50 on May 26 to as low as $1.77 on May 27, 2011 and closed at $2.00 per share.

Those who purchased shares of China Information Technology, Inc. (Public, NASDAQ-CNIT), and/or those who have any information relating the investigation, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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The Shareholders Foundation, Inc. is a professional portfolio monitoring service and an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.