The Rosen Law Firm, P.A. announces that it is investigating potential securities fraud claims against Wonder Auto Technology, Inc. (NASDAQ: WATG) resulting from allegations that the Company may have issued materially false financial statements and information to investors.
On May 6, 2011 trading in the Company’s stock was inexplicably halted. On May 12, 2011, the Company announced that it had commenced an internal investigation relating to Wonder Auto’s investment and acquisition transactions. Additionally, the Company stated that because of the pending restatement of its financial statements for fiscal years 2008, 2009 and 2010, and the internal investigation, the Company did not expect to timely its financial statements for the first quarter of 2011.
On May 20, 2011, the Company announced that the investigation it had commenced was in response to a report that the Company had engaged in several transactions without properly disclosing their related-party nature.
The Rosen Law Firm is preparing a securities class action lawsuit on behalf of Wonder Auto investors to recover investment losses. If you purchased or acquired Wonder Auto securities between January 1, 2008 and May 6, 2011, please visit the website at http://rosenlegal.com to join the proposed class action and to obtain additional information. You may also contact Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at 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.