CDM China Century Dragon Media Common Stock

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased the securities of China Century Dragon Media, Inc. (“CDM” or the “Company”) (NYSE Amex:CDM) between February 8, 2011 and March 25, 2011, inclusive (the “Class Period”), including CDM common stock purchased pursuant to the Company’s initial public offering on or around February 8, 2011.

CDM is a television advertising company that primarily offers advertising time on certain channels on China Central Television, China’s largest television network. The Complaint alleges that defendants violated federal securities laws by misrepresenting CDM’s business, operations and financial condition, thereby artificially inflating the price of the Company’s securities.

On March 28, 2011, CDM announced that its independent auditor, MaloneBailey LLP, has formally resigned its engagement with the Company. In its resignation letter, MaloneBailey informed the Company that “discrepancies noted on customer confirmations and the auditor’s inability to directly verify the Company’s bank records...may be an indication that the accounting records have been falsified,” and that “it can no longer support its opinions related to the financial statements as of December 31, 2009 and 2008.”

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased CDM securities between February 8, 2011 and March 25, 2011, including CDM common stock purchased pursuant and/or traceable to the Company’s February 8, 2011 initial public offering, you have certain rights, and have until May 31, 2011, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice 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, by email to howardsmith@howardsmithlaw.com or visit our website at www.howardsmithlaw.com.

China Century Dragon Media Common Stock (AMEX:CDM)
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China Century Dragon Media Common Stock (AMEX:CDM)
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