The Rosen Law Firm, P.A. announces that it is investigating potential securities fraud claims against China Agritech, Inc. (NASDAQ: CAGC) (“China Agritech” or the “Company”) resulting from allegations that the Company may have issued materially inaccurate financial statements to the investing public between February 8, 2010 and February 3, 2011.
On or about February 3, 2011, analyst firm LM Research issued a 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 red flags of fraud within the Company. These disclosures of potential fraud concerning China Agritech caused the stock price to drop, damaging investors.
The Rosen Law Firm is investigating a securities class action lawsuit on behalf of China Agritech investors. If you purchased China Agritech stock between February 8, 2010 and February 3, 2011, please visit the website at http://www.rosenlegal.com for more information. You may also contact Laurence Rosen, Esq., or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
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.