The company provides its e-learning services to post-secondary institutions, K-12 schools, government agencies and corporate enterprises via its nationwide satellite broadband network.
[citation needed] In May 2004, the Company was renamed ChinaCast Communications Holdings Limited (CCH) and made an initial public offering on the Singapore Stock Exchange.
[9] Around the same time, short-seller Sahm Adrangi of Kerrisdale Capital Management LLC accused ChinaCast of falsifying its financial records to inflate its value, attract investors, and deceive the Chinese government.
[12] In 2013, the U.S. Securities and Exchange Commission won a case against Chan in which they accused him of "systematically looting the company", and was awarded US$49 million in the Manhattan federal court.
[3][13] In 2015, the 9th Circuit ruled that the company can be held liable for the actions of its CEO, overruling an earlier judgement by a Pasadena court and allowing the litigation to continue.