Lieff Cabraser Heimann & Bernstein, LLP

Lieff Cabraser Heimann & Bernstein, LLP Announces Class Action Lawsuit Against Focus Media Holding Limited

The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that a class action lawsuit has been brought on behalf of purchasers of the American Depositary Shares ("ADS") of Focus Media Holding Limited ("Focus Media" or the "Company") (Nasdaq: FMCN) between September 25, 2007 and November 21, 2011, inclusive (the "Class Period").

If you purchased Focus Media ADS during the Class Period, you may move the Court for appointment as lead plaintiff by no later than February 13, 2012. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

Focus Media shareholders who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon Lee of Lieff Cabraser toll-free at (800) 541-7358.

Background on the Focus Media Securities Class Litigation

The action is brought against Focus Media and certain of its executives for violations of the Securities Exchange Act of 1934. Focus Media, a Cayman Islands corporation that maintains its principal executive offices in Hong Kong, is a multi-platform digital media company that operates a liquid crystal display ("LCD") network using audiovisual digital displays in China. It provides advertising services on displays in high traffic areas.

The action alleges that during the Class Period, defendants misrepresented and omitted material information regarding Focus Media's financial results and operations. Specifically, defendants failed to disclose that (1) Focus Media materially overstated the number of screens in its LCD network by approximately 50 percent; (2) the Company deliberately overpaid for acquisitions since 2005 in order to conceal losses; and (3) certain Focus Media insiders engaged in massive insider trading.

On November 21, 2011, research firm Muddy Waters LLC issued a report accusing Focus Media of materially overstating the number of screens currently in the Company's LCD advertising network. Muddy Waters also alleged that like Olympus Corporation, Focus Media routinely overpaid for acquisitions to conceal losses, noting that the Company had written down $1.1 billion out of $1.6 billion in acquisitions since 2005. Moreover, the report accused certain Company insiders for engaging in massive insider selling. On this news, Focus Media ADS fell $10.07 per share, or 39 percent, from its closing price on the prior trading day, November 18, 2011, to close at $15.43, on extremely heavy trading volume. 

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York and Nashville, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. 

Since 2003, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs' law firms in the nation. In compiling the list, the National Law Journal examined recent verdicts and settlements in addition to overall track records. Lieff Cabraser is one of only two plaintiffs' law firms in the United States to receive this honor for the last nine consecutive years.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Source/Contact for Media Inquiries Only:

Sharon M. Lee
Lieff Cabraser Heimann & Bernstein, LLP
Telephone: (800) 541-7358