The Law Firm Of Levi & Korsinsky Notifies Investors With Losses On Their Investment In China Sky One Medical, Inc. Of Class Action Lawsuit And The Deadline Of April 24, 2012 To Seek A Lead Plaintiff Position
Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased China Sky One Medical, Inc. (“China Sky One” or the “Company”) (Nasdaq: CSKI) stock between April 16, 2009 and February 14, 2012 (the “Class Period”). For more information, click here: http://www.zlk.com/china-sky-one-medical-cski. There is no cost or obligation to you. The Complaint alleges that defendants misrepresented and/or failed to disclose that China Sky One’s earnings and gross margins were inflated, and that the Company lacked adequate internal and financial controls. On May 19, 2011, China Economic Review published an article warning that China Sky One’s financial results were suspect, based on a comparison of the Company and its competitors. On February 15, 2012, the Company announced that its Chief Executive Officer was being treated for a life threatening illness and was taking a medical leave of absence, and that 26 middle-management level employees, including nine from the accounting department, had resigned. As a result of the foregoing disclosures, the price of China Sky One common stock fell approximately 28%, from $1.53 per share on February 14, 2012 to close at $1.10 per share on February 15, 2012. If you suffered a loss in China Sky One you have until April 24, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (877) 363-5972, or visit http://www.zlk.com. 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. Attorney advertising. Prior results do not guarantee similar outcomes.
Shares of China Sky One Medical (Nasdaq:CSKI) have taken a tremendous swing upward. The stock is trading at $3.23 as of 3:41 p.m. ET, 23.3% above Thursday's closing price of $2.62. Volume is at 528,537, 4.3 times the daily average of 122,300.
Shares of China Sky One Medical (Nasdaq:CSKI) have taken a tremendous swing upward. The stock is trading at $2.57 as of 2:25 p.m. ET, 20.7% above Wednesday's closing price of $2.13. Volume is at 151,799, 1.2 times the daily average of 123,500.