Bronstein, Gewirtz & Grossman, LLC Announces That a Class Action Has Been Filed Against Camelot Information Systems, Inc.

NEW YORK, NY--(Marketwire - Jan 9, 2012) - Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC announces that a class action has been filed in the United States District Court for the Southern District Court of New York on behalf of purchasers of Camelot Information Systems Inc. ("Camelot" or the "Company") (NYSE: CIS) American Depositary Shares ("ADSs") between July 21, 2010 and August 17, 2011 (the "Class Period"), including those who acquired Camelot ADSs pursuant or traceable to the Company's false and misleading Registration Statements and Prospectuses issued in connection with its July 21, 2010 initial public offering and December 10, 2010 Secondary Offering.

The complaint alleges that, during the Class Period, the Company and its executives violated federal securities laws by misrepresenting and/or failing to disclose: (1) the Company's IT professionals were not a competitive advantage to the Company and many were dissatisfied with Camelot, which would adversely affect Camelot's ability to retain its customers; (2) Camelot was suffering from significant employee attrition; (3) Camelot did not have as many highly trained professionals at its disposal as it represented; and (4) Camelot's contract with IBM, its most important customer, was not robust and would not be renewed on the same terms.

No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. March 5, 2012 is the deadline for investors to seek a lead plaintiff appointment.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of both class and individual litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate work, litigation and securities arbitration.