Bernstein Liebhard LLP is investigating whether wrongdoing occurred at Wonder Auto Technology, Inc. (“Wonder Auto” or the “Company”) (NASDAQ: WATG), including whether the Company made false statements to the investing public.
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 the pending restatement of the Company’s financial statements for the fiscal years 2008, 2009 and 2010, and for the quarters ending March 31, June 30 and December 31, 2010, Wonder Auto stated that it 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”) sent notice to Auto Wonder as to its noncompliance with Nasdaq's continued listing standards as a result of the Company’s failure to file its 10-K in a timely manner. Nasdaq has further 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 stated that it plans to provide its Plan of Compliance to Nasdaq on or about May 13
, and in no event later than May 23, 2011. Finally, the Company stated that it does not expect its filings will be completed until the completion of the investigation.
If you are interested in discussing your rights as a Wonder Auto shareholder and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or
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