This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Faruqi & Faruqi, LLP Announces Investigation Of Yongye International, Inc.

Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at Yongye International, Inc. (“Yongye” or the “Company”) (NasdaqGS: YONG). Faruqi & Faruqi, LLP seeks to determine whether Yongye violated federal securities laws in connection with statements made to the Company’s shareholders.

Request more information now by clicking here: www.faruqilaw.com/YONG.

The investigation focuses on whether certain individuals violated federal securities laws by, among other things, failing to disclose that: (1) the Company’s ability to produce the plant product tonnage was inconsistent with the tonnage the Company had reported to the SEC and investors as shipments of sales in its financial results; (2) by including unearned revenue the Company’s reported financial statements were grossly inflated; and (3) the rate of growth of the Company’s business was inconsistent with what it had reported.

On May 9, 2011, the Company announced its financial results for its first quarter 2011, including reported revenue of $50.2 million and net income of $8.4 million. On May 11, 2011, Seeking Alpha issued an article entitled “Yongye International’s Reported Production: SEC Filings Raise Red Flags.” The article concluded that an analysis of Yongye’s SEC filings show that the Company “could not have produced, and therefore sold, the reported plant product tonnages given the [C]ompany’s stated manufacturing capacity and shipments.” After this news hit the market, Yongye’s stock fell to $4.85 per share on May 12, 2011 from $5.19 per share on May 10, 2011.

Take Action

If you purchased Yongye securities between August 11, 2010 and May 18, 2011, and you would like to discuss your legal rights, visit www.faruqilaw.com/YONG. You can also contact us by calling Juan Monteverde toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to jmonteverde@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Yongye’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

About Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP is a national law firm, representing investors, consumers and companies in the prosecution of claims under state corporate and consumer laws and the federal securities and antitrust laws. The firm is focused on providing exemplary legal services in complex litigation. Founded in 1995, the firm maintains its principal office in New York City, with offices in Delaware, California, Florida and Pennsylvania. The lawyers at Faruqi & Faruqi, LLP have demonstrated a clear commitment to championing the rights of shareholders and consumers nationwide.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs