Levi & Korsinsky is investigating AgFeed Industries, Inc. (“AgFeed” or the “Company”) (NASDAQ: FEED) to determine whether certain of its officers and directors have issued materially false and misleading statements to investors in violation of federal securities laws. For more information, click here: http://zlk.9nl.com/agfeed-industries. On August 2, 2011, AgFeed issued a press release announcing disappointing financial results for the second quarter of the 2011 fiscal year, including a net loss of approximately $17 million for the three months ended June 30, 2011. The Company also announced that due to “operating pressures,” AgFeed would be “establishing reserves due to concerns regarding credit quality.” Since this news, shares of AgFeed have plummeted more than 40 percent. If you own shares of AgFeed stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/agfeed-industries-feed.html. Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Shares of AgFeed Industries (Nasdaq:FEED) were gapping down Monday morning with an open price 23.1% lower than Friday's closing price. The stock closed at 52 cents yesterday and opened today's trading at 40 cents.