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
TheStreet Open House

Harwood Feffer LLP Announces That A Securities Class Action Lawsuit Has Been Filed Against AgFeed Industries, Inc.

Stocks in this article: FEED

Harwood Feffer LLP ( www.hfesq.com) announces that a class action suit was filed on October 18, 2011 in the United States District Court for the Middle District of Tennessee against AgFeed Industries, Inc. (“AgFeed” or the “Company”) (NASDAQ: FEED) on behalf of all purchasers of AgFeed securities between March 16, 2009 and August 2, 2011 (the “Class Period”).

On August 2, 2011 AgFeed disclosed that it expected to post a loss of more than $17 million due to an increase in allowances for its bad-debt provision and that it needed to take a $9.2 million charge for the collection of outstanding receivables in its animal nutrition business. The Company stock, which closed at $1.99 per share on August 1, 2011, plummeted to $1.02 per share by August 8, 2011. Then, on September 29, 2011, the Company disclosed that it had formed a special committee to investigate accounting related to the Company’s Chinese farm assets and the validity and collectability of certain accounts receivables. AgFeed stock, which had closed at $0.69 per share on September 28, 2011, rapidly lost 30% of its value to close at $0.40 per share on October 1, 2011.

The Tennessee suit alleges that the Company made a series of material misrepresentations to the market which had the effect of artificially inflating the market price and failed to disclose material adverse facts about AgFeed’s business in violation of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5.

If you purchased AgFeed securities during the Class Period, you have until December 19, 2011 to ask the Court to appoint you lead plaintiff. If you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

 
Robert I. Harwood, Esq.
Peter W. Overs, Jr., Esq.
Benjamin Sachs-Michaels
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400

Email: bsachsmichaels@hfesq.com

Website: http://www.hfesq.com

 

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website ( http://www.hfesq.com) for more information about the firm.

Attorney Advertising.© 2011 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP ( www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,461.32 -153.49 -0.92%
S&P 500 1,927.11 -14.17 -0.73%
NASDAQ 4,382.8470 -36.6310 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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