Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Wonder Auto Technology, Inc.(“Wonder Auto” or the “Company”) (NASDAQ:WATG), concerning whether the company has violated federal securities laws.
On May 12, 2011, Wonder Auto announced that its Audit Committee, with assistance of professional advisors, has undertaken an internal investigation concerning certain of its investment and acquisition transactions. As a result, of pending restatement of its financial statements for the fiscal year 2008, 2009 and 2010 and for the quarters March 31, June 30 and December 31, 2010 and does not expect to be able to file its Form 10-Q for the quarter ended March 31, 2011 by the filing deadline of May 10, 2011. As previously announced, Nasdaq Stock Market (“Nasdaq”) has sent notice to Auto Wonder as to its noncompliance with Nasdaq's continued listing standards as a result of the failure to file the 10-K in a timely manner. Nasdaq further has informed Wonder Auto that it has suspended trading in the company's common stock pending the Company’s provision of a satisfactory Plan of Compliance to Nasdaq. The Company plans to provide its Plan of Compliance to Nasdaq on or about May 13th and in no event later than May 23, 2011. The company does not expect that its filings will be completed until the completion of the investigation.
If you are aware of any facts relating to this investigation, or purchased shares of Wonder Auto, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email
. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate work, private securities offerings, and securities arbitration.