The Rosen Law Firm, P.A. announces that it has filed a class action lawsuit on behalf of investors who purchased the common stock of Sino Clean Energy, Inc. (NASDAQ: SCEI) alleging that Sino-Clean issued materially inaccurate financial statements to the investing public between April 6, 2009 and May 5, 2011. The case is pending in the U.S. District Court for the Central District of California. To join the Sino Clean class action, visit the Rosen Law Firm’s website at http://www.rosenlegal.com, or call Jonathan Horne, Esq. or Sophie Zhang, Esq., toll-free, at 866-767-3653; you may also email email@example.com or firstname.lastname@example.org for information on the class action. NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER. The Complaint asserts violations of the federal securities laws against Sino Clean and its officers and directors for issuing materially false and misleading financial statements to investors. According to the Complaint, between April 25 and April 28, a report was disseminated allegedly showing little or no activity in the Company’s factories. On May 1, a further report was published showing that the Company’s Chairman may have violated U.S. and Chinese law by defrauding Chinese investors, exposing the Company to civil and criminal liability. On May 3, the Company issued a “rebuttal” and invited investors to view video evidence of activities in its plants. On May 4, reports surfaced that the Company’s video evidence was inconsistent with meteorological conditions. The Company’s stock price fell, damaging investors If you wish to serve as lead plaintiff, you must move the Court no later than July 5, 2011. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding the class action, please contact Jonathan Horne, Esq. or Sophie Zhang of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at or email@example.com or firstname.lastname@example.org. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Shares of Sino Clean Energy (Nasdaq:SCEI) have taken a tremendous swing upward. The stock is trading at $2.02 as of 2:45 p.m. ET, 21.2% above Tuesday's closing price of $1.67. Volume is at 1.2 million, 1.3 times the daily average of 861,500.
Shares of Sino Clean Energy (Nasdaq:SCEI) were gapping down Monday morning with an open price 16% lower than Friday's closing price. The stock closed at $2.69 yesterday and opened today's trading at $2.26.