NEW YORK--(BUSINESS WIRE)--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of China Gerui Advances Materials Group Ltd. (“China Gerui” or the “Company”) (NASDAQGM:CHOP), concerning whether the company and certain of its officers and directors have violated federal securities laws.
On October 28, 2011, analyst firm Prescience Investment Group ("Prescience") issued a report alleging that CHOP misrepresented its financial performance and has overstated its revenue, net income and margins for at least FY 2007 and FY 2008. Citing a number of sources, including filings CHOP made with the Chinese State Administration of Industry and Commerce (the "SAIC"). Upon this news, Shares of CHOP fell from $2.99 on October 27, 2011 to as low as $1.98 on October 28, 2011.
If you are aware of any facts relating to this investigation, or purchased shares of China Gerui, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate work, private securities offerings, and securities arbitration.