This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Fuqi International Announces Appointment Of New Director And Formation Of Special Internal Investigation Committee

SHENZHEN, China, Oct. 29 /PRNewswire-Asia/ -- FUQI International, Inc. (Nasdaq: FUQI, "Fuqi" or the "Company") today announced the appointment of Kim K.T. Pan as an independent member to the Board of Directors of the Company and the formation of a Special Internal Investigation Committee of the Board of Directors.  Mr. Pan was also appointed to serve on the Governance and Nominating Committee.

Mr. Pan has served as the President and as a member of the Board of Directors of Continental Carbon Company, a developer, manufacturer and marketer of carbon-related products, since 1999.  Prior to that, he served as its Executive Vice President and Chief Financial Officer beginning in 1998 and as its Vice President, Chief Financial Officer of Continental Carbon from 1995 to 1997.  Mr. Pan has also served as a member of the Board of Directors of Continental Carbon India Ltd. since 2000, serving as its Chairman of the Board since 2005.  Mr. Pan holds a B.S. in Electrical Engineering from the University of Texas, Austin, an M.S. in Electrical Engineering from the University of Wisconsin, Madison and an MBA in Finance from the Wharton School at the University of Pennsylvania.  He has extensive experience as an officer and director of U.S. companies and is fluent in English and Mandarin Chinese.

Mr. Yu Kwai Chong, Chairman of Fuqi commented, "Kim is a successful executive with a wealth of business experience and knowledge.  We welcome him as an additional independent member to our Board and look forward to his contributions in the coming years."

The Board of Directors of the Company has formed a Special Internal Investigation Committee as a result of a stockholder demand letter and appointed Lily Chen and Kim Pan as the committee members. The Special Committee will investigate allegations contained in the demand letter regarding potential breaches of fiduciary duties by the Company's directors and certain officers related to the Company's restatement of its 2009 financial statements.   The Special Committee will evaluate whether any of the claims in the demand letter are meritorious and whether it is in the best interest of the Company to pursue them.  The Committee is authorized to retain experts and advisers in connection with its investigation.

About FUQI International

Based in Shenzhen, China, FUQI International, Inc. is a leading designer, producer and seller of high quality precious metal jewelry in China. Fuqi develops, promotes, manufactures and sells a broad range of products consisting of unique styles and designs made from gold and other precious metals such as platinum and Karat gold. For more information, please visit

SOURCE FUQI International, Inc.

Copyright 2009 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,367.14 +298.27 1.75%
S&P 500 2,009.01 +36.27 1.84%
NASDAQ 4,634.5810 +86.7470 1.91%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs