Rosen Law Firm Reminds Investors of Upcoming Deadline in Class Action Against China Agritech, Inc. -- CAGC
March 11 2011 - 5:57PM
The Rosen Law Firm, P.A. reminds investors of the important April
12, 2011 lead plaintiff deadline. If you purchased the common stock
of China Agritech, Inc. ("China Agritech" or the "Company")
(Nasdaq:CAGC) during the period from February 8, 2010 through
February 3, 2011 (the "Class Period"), you should contact the Rosen
Law Firm for more information about the importance of serving as a
lead plaintiff. The lawsuit seeks to recover damages
for investors from violations of federal securities laws.
To join the China Agritech class action, visit the Rosen Law
Firm's website at http://www.rosenlegal.com, or call Laurence
Rosen, Esq. or Phillip Kim, Esq., toll-free, at 866-767-3653; you
may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for
information on the class action.
The Complaint alleges China Agritech issued materially false and
misleading financial statements. Particularly, the Complaint
alleges that on or about February 3, 2011, analyst firm LM Research
issued a report (the "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 badges of fraud within the
Company. The Complaint alleges that when these disclosures of
potential fraud concerning China Agritech were revealed to the
market, the price of China Agritech stock dropped, damaging
investors.
If you wish to join the class action and serve as lead
plaintiff, you must move the Court no later than April 12,
2011. A lead plaintiff is a representative party acting on
behalf of other class members in directing the litigation. For
more information or to discuss your rights or interests regarding
this class action, please 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 pkim@rosenlegal.com. You
may also visit the firm's website at http://www.rosenlegal.com.
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. You may choose to do nothing at this point and
remain an absent class member.
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.
CONTACT: Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue, 34th Floor
New York, New York 10016
Tel: (212) 686-1060
Weekends Tel: (917) 797-4425
Toll Free: 1-866--767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
www.rosenlegal.com
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