Rigrodsky & Long, P.A. announces that a class action lawsuit has been filed in the United States District Court for the District of Nevada on behalf of all persons or entities who purchased or otherwise acquired the common stock of China Green Agriculture, Inc. (“China Green Agriculture” or the “Company”) (NYSE: CGA) between November 12, 2009 and September 1, 2010, inclusive (the “Class Period”), seeking to pursue remedies under the Securities Exchange Act of 1934 (the “Complaint”).
The Complaint names China Green Agriculture and certain of the Company’s current and former executive officers as defendants. The Complaint alleges that during the Class Period, defendants made materially false and misleading statements, and/or omitted material facts, all which raise significant concerns about the Company’s future stability and have caused the stock price to steadily decline. These statements have been questioned by many analysts and financial oversight groups, including the International Financial Research & Analysis Group (“IFRA”).
The Complaint also alleges that the Company’s fiscal 2010 financial statements filed with the SEC are materially false and misleading. In fact, China Green Agriculture’s comparable 2010 financial statements filed with Chinese authorities materially differed from the financial results set forth in the Company’s SEC filings. As a result, China Green Agriculture’s false and misleading statements during the Class Period inflated the price of the Company’s securities.
If you wish to serve as lead plaintiff, you must move the Court no later than December 14, 2010. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Noah R. Wortman, Case Development Director of Rigrodsky & Long, P.A., 919 North Market Street, Suite 980 Wilmington, Delaware, 19801 at (888) 969-4242, by e-mail to firstname.lastname@example.org, or via our website: http://www.rigrodskylong.com/news/ChinaGreenAgricultureInc-CGA. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.