US SEC suspends trading in China Expert Technology
WASHINGTON, Oct 1 (Reuters) - The U.S. Securities and Exchange Commission suspended trading in China Expert Technology Inc CXTI.BE on Monday, saying questions have been raised about the China-based company's disclosures regarding its business prospects and current financial condition.
China Expert, based in Shenzhen, China, provides information technology network and infrastructure consulting services. Its major clients include municipal governments, government authorities and other technology firms in China, according to the company.
The SEC suspended trading in China Expert securities at 9:30 a.m. EDT (1330 GMT) on on Monday. The temporary suspension will end on Oct. 12 at midnight, the SEC said in a statement.
The U.S. investor protection agency said there are questions about "the accuracy and adequacy of publicly-disseminated information" about China Expert's financial performance, business prospects and current financial condition.
The SEC said it cautions brokers, dealers, shareholders and prospective buyers that they should carefully consider the SEC's information, as well as information subsequently issued by the company.
