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Share Name | Share Symbol | Market | Type |
---|---|---|---|
China Agritech, Inc. (MM) | NASDAQ:CAGC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.88 | 0 | 01:00:00 |
If you have suffered a loss from investment in China Agritech common stock purchased on or after November 12, 2009 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than September 3, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that the Company grossly overstated its revenue and income in Securities and Exchange Commission ("SEC") filings which were highly inflated over figures appearing in filings made with Chinese authorities. According to the complaint, following a February 3, 2011 report issued by LM Research alleging that the Company's statement of revenue and earnings for the fiscal year 2009 were materially false and misleading and referring to the Company as a "scam" with empty, idle factory plants, no necessary licenses and "no value," the value of China Agritech shares declined significantly; and following a March 14, 2011 Company release announcing the resignation of its independent outside auditor, Ernst & Young Hua Ming and the formation of a Special Committee to investigate accounting irregularities and a delay for the filing of it 10-K report to the SEC and the revocation by the SEC of the registration of China Agritech's stock, trading of the Company's shares on the NASDAQ was permanently halted.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com
1 Year China Agritech, Inc. (MM) Chart |
1 Month China Agritech, Inc. (MM) Chart |
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