Law Offices of Howard G. Smith, Representing Investors of China Agritech, Inc. Announces Class Action Lawsuit
February 22 2011 - 7:30PM
Business Wire
Law Offices of Howard G. Smith, representing investors of China
Agritech, Inc. (“China Agritech” or the “Company”) (NASDAQ:CAGC),
has filed a class action lawsuit in United States District Court on
behalf of a class (the “Class”) consisting of all persons or
entities who purchased the securities of China Agritech between
February 8, 2010 and February 3, 2011, inclusive (the “Class
Period”). The class action lawsuit was filed in the United States
District Court for the Central District of California.
China Agritech, through its subsidiaries, manufactures and sells
organic liquid compound fertilizers, organic granular compound
fertilizers, and related agricultural products in the People’s
Republic of China. The Complaint alleges that the defendants issued
false and/or misleading statements and/or failed to disclose that,
among other things: (1) certain of the Company’s manufacturing
facilities were idle or producing far less fertilizer than the
Company portrayed; (2) the Company did not have the equipment to
support its claimed production capacity; (3) the Company did not
receive a license to manufacture granular compound fertilizer; (4)
the Company had misrepresented its fertilizer production levels and
sales; and (5), as a result of the foregoing, the Company's
statements were materially false and misleading at all relevant
times.
No class has yet been certified in the above action. Until a
class is certified, you are not represented by counsel unless you
retain one. If you purchased China Agritech securities between
February 8, 2010 and February 3, 2011, you have certain rights and
have until April 12, 2011, to move for lead plaintiff status. To be
a member of the class you need not take any action at this time,
and you may retain counsel of your choice. If you wish to discuss
this action or have any questions concerning this Notice or your
rights or interests with respect to these matters, please contact
Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone
at (215)638-4847, Toll-Free at (888)638-4847, by email to
howardsmith@howardsmithlaw.com or visit our website at
http://www.howardsmithlaw.com.
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