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NEW YORK, Dec. 21, 2011 /PRNewswire/ -- Deer Consumer Products, Inc. (Nasdaq: DEER) (website:
http://www.deerinc.com/), a leading provider of "DEER" branded household consumer products and a vertically integrated manufacturer of small household and kitchen appliances for global customers, announced today that threats from a group of U.S. and
China based short sellers led by a fictitious group known as "
Alfred Little", have been carried out due to Deer's refusal to withdraw a pending
United States lawsuit pending in the Supreme Court of the
State of New York.
Of further interest is a press related dated
December 20, 2011 issued by the New York Stock Exchange listed Silvercorp Metals, Inc. (NYSE: SVM), titled
Silvercorp Metals Inc.: Chinese Law Enforcement Agents Open Criminal Case to Investigate Creators of Falsified Reports.
Deer believes that short sellers established short positions in order to benefit from a purportedly upcoming "
Alfred Little" report which caused the sudden drop in the price of Deer's common stock during the last 30 minutes of trading before market close on
December 15, 2011, as well as drop in Deer's share prices on
December 19 and December 20. This is the same conduct that caused dramatic drops in Deer stock prices in March of this year and the very reason for the lawsuit demanding justice against the "Little" conspirators that this same group is now attempting to have dismissed, not via legitimate judicial process, but via intimidation, coercion and
Deer remains fully committed to protecting and preserving the legal rights of the Company and its shareholders from these short and distort activities and will not be terrorized by this group of bandits.