Harwood Feffer LLP is investigating potential claims on behalf of purchasers of 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 issued a press release stating 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 a pending restatement of its financial statements for fiscal years 2008, 2009, and 2010 and for the quarters March 31, June 30, and December 31, 2010, and the investigation, Wonder Auto has not filed its Form 10-K for its fiscal year ended 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. The Nasdaq Stock Market (“Nasdaq”) has sent notice to Wonder Auto 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.
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If you purchased Wonder Auto common stock from January 1, 2008 through May 6, 2011, the date of Nasdaq’s suspension of the Company from trading, and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
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