The Rosen Law Firm, P.A. today announced that it has filed a securities fraud class action lawsuit on behalf of investors who purchased the common stock of Yongye International, Inc. (NASDAQ: YONG) during the period from August 11, 2010 through May 18, 2011, inclusive, and is seeking to recover investors’ damages from violations of federal securities laws. To join the Yongye class action, visit the Rosen Law Firm’s website at http://www.rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email or email@example.com for information on the class action, 如果您講中文，請致電張律師212-686-1060，或電郵 firstname.lastname@example.org, 獲取該集體訴訟案件的具體信息. The case filed by the Rosen Law Firm is pending the U.S. District Court for the Southern District of New York. 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 Yongye and its officers and directors for issuing false and misleading information to investors about the financial and business condition of the Company. The Complaint alleges that (a) Yongye’s financial results as reported to the SEC were inconsistent with the Company’s ability to produce the tonnage reported as shipments of sales; (b) Yongye’s reported financial statements were grossly inflated by including revenue it had not earned; and (c) Yongye’s business was not growing at the rate represented by defendants. If you wish to serve as lead plaintiff, you must move the Court no later than July 25, 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 this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at email@example.com. You may also visit the firm’s website at http://www.rosenlegal.com. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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.