The Briscoe Law Firm Investigates Yongye International Inc. On Behalf Of Shareholders For Possible Breaches Of Fiduciary Duties By Its Officers And Directors
Briscoe Law Firm, PLLC, founded by a former state prosecutor and
enforcement attorney for the United States Securities and Exchange
Commission, and the law firm of
Taylor, LLP are investigating...
The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the officers and Board of Directors of Yongye International Inc. (“Yongye International” or “YONG”) (NASDAQ: YONG) during the period of August 11, 2010 through May 11, 2011 (the “Class Period”). It has been alleged in a recently filed complaint that during the Class Period Yongye International and certain of its officers and directors made materially false and misleading statements or failed to disclose material information related to the company’s business and operations in violation of the Securities Exchange Act of 1934. Specifically, the complaint alleges defendants failed to disclose that the company’s financial results were inflated and were inconsistent with Yongye International’s production capabilities. As a result of defendants’ false statements, Yongye International stock traded at artificially inflated prices during the Class Period, reaching a high of $9.09 per share on November 8, 2010. Additionally, defendants failed to disclose: (a) that Yongye International’s financial results reported to the SEC and investors were inconsistent with the company’s ability to produce the tonnage reported as shipments of sales; (b) that Yongye International’s reported financial statements were grossly inflated by including revenue it had not earned; and (c) that Yongye International’s business was not growing at the rate represented by defendants. If you currently own or purchased Yongye International/YONG shares and would like additional information regarding this investigation or if you have information regarding the allegations against the company, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you. The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Yongye International said Wednesday the $340 million buyout by chairman and CEO Zishen Wum and the Asian private equity arm of Morgan Stanley did not get the required vote of nonaffiliated shareholders at an adjourned special meeting.