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Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of Telestone Technologies Corporation

^{Published on 2011-01-14 16:55:22 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against Telestone Technologies Corporation (aTelestonea or the aCompanya) (NASDAQ:TSTC) concerning possible violations of federal securities laws or breaches of fiduciary duties by the Company or its fiduciaries. Telestone is a Beijing-based provider of access network solutions, primarily in the Peoplea™s Republic of China. The Company also designs and sells electronic equipment including WFDS products, RFPA products, passive components, repeaters, radio frequency peripherals, and base station antennas used to provide access network solutions for 2G, 3G, broadband access and CATV networks.

"control weaknesses and control deficiencies in our internal control over financial reporting."

The investigation concerns allegations that certain statements issued by the Company between January 2005 and the present concerning Telestonea™s business, prospects and financial performance were materially false and/or misleading. Telestonea™s annual report for its 2009 fiscal year, filed March 31, 2010, with the U.S. Securities and Exchange Commission, disclosed that as of December 31, 2009, the Companya™s disclosure controls and procedures were anot effectivea due to certain acontrol weaknesses and control deficiencies in our internal control over financial reporting.a

If you are shareholder of Telestone, and still hold those shares, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].