SAN DIEGO, Oct. 10, 2013 /PRNewswire/ -- On September 25, 2013, Krause, Kalfayan, Benink
& Slavens, LLP filed a securities fraud class action lawsuit in
the United States District Court for the Southern District of
California on behalf of a Class of
persons who purchased the common stock of Valley Forge Composite
Technologies, Inc. (Ticker Symbol: VLYF) on the Over-The-Counter
Bulletin Board ("OTCBB") stock exchange during the period of
January 1, 2009 to and including
February 6, 2013.
The complaint alleges that Defendants manipulated the market
price of Valley Forge's common stock by falsely representing and/or
omitting material information regarding the nature of its products
and sales revenues. Specifically the Complaint alleges that
Defendants falsely represented that all or nearly all of Valley
Forge's revenues since 2009 were derived from the sale of aerospace
products called momentum wheels. In reality, Valley Forge's
revenues were derived primarily from the alleged illegal export of
semiconductors to Hong Kong. On February 6, 2013, Valley Forge publicly revealed
allegations by the U.S. Attorney's Office that it had exported more
than $37 million worth of military
semiconductors to Hong Kong since
about 2009 in violation of the International Traffic In Arms
Regulations. It also reported that the U.S. Attorney's Office
had seized Valley Forge's bank accounts. Its stock price
immediately plummeted in value.
Plaintiff seeks to recover damages on behalf of investors who
bought VLYF on the OTCBB during the Class Period of January 1, 2009 to and including February 6, 2013. Plaintiff is represented
by the law firm of Krause, Kalfayan, Benink & Slavens, LLP of
San Diego, CA. Krause,
Kalfayan, Benink & Slavens, LLP has many years of experience
representing defrauded investors in shareholder class actions.
If you are a member of the Class described above, and if you
meet certain other legal requirements, you may, not later than 60
days after the date that this notice is published move the Court to
serve as a lead plaintiff. If you wish to discuss this action
or have any questions concerning this notice or your rights or
interests, you may contact Vincent D.
Slavens, Esq. with Krause, Kalfayan, Benink & Slavens,
LLP, at 619-232-0331 or by e-mail at vslavens@kkbs-law.com. If you
wish to learn more about Krause, Kalfayan, Benink & Slavens,
LLP, please visit their Web page at http://www.kkbs-law.com.
SOURCE Krause, Kalfayan, Benink & Slavens, LLP