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 interrorum threats. 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.
Shares of Deer Consumer Products (Nasdaq:DEER) have taken a tremendous swing upward. The stock is trading at $4.08 as of 9:35 a.m. ET, 28.3% above Wednesday's closing price of $3.18. Volume is at 119,644, 1.4 times the daily average of 84,200.
Shares of Deer Consumer Products (Nasdaq:DEER) have taken a tremendous swing upward. The stock is trading at $5.07 as of 2:19 p.m. ET, 20.4% above Wednesday's closing price of $4.21. Volume is at 165,235, 1.7 times the daily average of 94,600.