Robbins Umeda LLP Announces an Investigation of Duoyuan Global Water Inc. for Shareholders
April 08 2011 - 7:23PM
Business Wire
Robbins Umeda LLP, a shareholder rights litigation firm, is
interested in helping shareholders of Duoyuan Global Water Inc.
(NYSE: DGW). The firm has commenced an investigation into possible
breaches of fiduciary duty and other violations of the law by
certain officers and directors at Duoyuan between June 24, 2009 and
April 4, 2011. Duoyuan, through its subsidiaries, manufactures and
distributes water environment protection equipment and water
treatment products in the People's Republic of China. The company
was founded in 1992, is headquartered in Beijing, China and is
incorporated in Delaware.
If you are a Duoyuan shareholder and would like more information
about your rights, please contact Gregory E. Del Gaizo at
800-350-6003 or via the shareholder information form on our
website.
Robbins Umeda's investigation focuses on whether the directors
and officers of Duoyuan harmed the company by engaging in
self-dealing and issuing false and misleading statements about the
company's financial results. On April 4, 2011, analyst firm Muddy
Waters issued a report suggesting that Duoyuan had overstated its
revenues, fabricated its audit reports, and engaged in improper,
undisclosed related-party transactions that transferred money to
its chairman. To support its claims, Muddy Waters purportedly
conducted extensive surveillance, but observed minimal production
and virtually no shipments in and out of the factory. Further,
Duoyuan's Chief Financial Officer, Stephen C. Park, announced his
resignation.
Robbins Umeda LLP represents individual and institutional
shareholders in derivative, direct, and class action lawsuits. The
law firm's skilled litigation teams include former federal
prosecutors, former defense counsel from top multinational
corporate law firms, and career shareholder rights attorneys.
Robbins Umeda LLP has helped its clients realize more than $1
billion of value for themselves and the companies in which they
have invested. For more information, please go to
http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/duoyuan-global-water-inc/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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