The Rosen Law Firm Announces Investigation of Securities Claims Against China Agritech, Inc. --- CAGC
February 04 2011 - 9:00PM
Business Wire
The Rosen Law Firm, P.A. announces that it is investigating
potential securities fraud claims against China Agritech, Inc.
(NASDAQ: CAGC) (“China Agritech” or the “Company”) resulting from
allegations that the Company may have issued materially inaccurate
financial statements to the investing public between February 8,
2010 and February 3, 2011.
On or about February 3, 2011, analyst firm LM Research issued a
report alleging, among other things, that the Company’s statement
of revenue and earnings for the fiscal year 2009 are materially
false and misleading. The Report, citing sources, claims that China
Agritech’s U.S. financial statements were materially different than
the financial statements filed with Chinese authorities by a number
of the Company’s subsidiaries. The report claims that the revenue
reported in the Company’s SEC filings for 2009 is ten times larger
than what the Chinese regulatory reports show. The LM Research
report also noted a number of potential red flags of fraud within
the Company. These disclosures of potential fraud concerning China
Agritech caused the stock price to drop, damaging investors.
The Rosen Law Firm is investigating a securities class action
lawsuit on behalf of China Agritech investors. If you purchased
China Agritech stock between February 8, 2010 and February 3, 2011,
please visit the website at http://www.rosenlegal.com for more
information. You may also contact Laurence Rosen, Esq., or Phillip
Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via
e-mail at lrosen@rosenlegal.com or lrosen@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
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