Investor Notice: The Rosen Law Firm Announces Investigation of Shareholder Securities Claims Against China-Biotics --- CHBT
The Rosen Law Firm today announced that it has commenced an investigation into allegations that China-Biotics, Inc. ("China-Biotics” or the "Company”) (Nasdaq: CHBT- News) may have violated the federal securities laws by issuing false and misleading statements to investors about its business and financial condition.
Recently, market commentators have published reports questioning the truth of China-Biotics’ disclosures about the nature, quality, and number of the Company’s retail outlets. Additionally, a recent report calls into question the veracity of China Biotics’ financial statements filed with the SEC for the fiscal years ended 2007 and 2008; China Biotics’ financial statements filed with the SEC report much higher revenue, income, and assets than the financial statements filed by China Biotics’ main operating subsidiary Shanghai Shining Biotechnology Co., Ltd. with the China State Administration for Industry and Commerce.
As a result of these allegations, the Rosen Law Firm is preparing a class action lawsuit on behalf of investors who suffered losses purchasing China-Biotics stock.
You may access the website at http://www.rosenlegal.com to participate in the proposed class action.
If you purchased China-Biotics securities and would like further information concerning your legal rights or your ability to recover your investment losses, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com or visit the website at www.rosenlegal.com
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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