Glancy Binkow & Goldberg LLP, Representing Investors of China Valves Technology, Inc., Announces Class Action Lawsuit and Seeks to Recover Losses

LOS ANGELES--(BUSINESS WIRE)--Notice is hereby given that Glancy Binkow & Goldberg LLP has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of a class consisting of all persons or entities who purchased the securities of China Valves Technology, Inc. (“China Valves” or the “Company”) (NASDAQ:CVVT) between January 12, 2010 and January 13, 2011, inclusive (the “Class Period”).

A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP. Please contact us by phone to discuss this action or to obtain a copy of the Complaint at [phone] or Toll Free at [phone], by email at [e-mail], or visit our website at http://www.glancylaw.com.

China Valves, through its subsidiaries, develops, manufactures and markets low-, medium-, and high-pressure metal valves for customers in the electricity, petroleum, chemical, water, gas, nuclear power station and metal industries in China. The Complaint alleges that during the Class Period the Company and certain of its current and former executive officers violated federal securities laws by issuing material misrepresentations to the market concerning China Valves’ business, prospects and financial condition, thereby artificially inflating the price of the Company’s securities. Specifically, the Complaint alleges that the defendants: (i) issued false and misleading financial statements and press releases concerning the nature, quality and circumstances of the Company’s major acquisitions, and (ii) failed to disclose the material, related-party nature of the transactions.

When the market learned of this adverse information, the price of China Valves stock dropped from $8.72 per share to a closing price of $7.15 per share on January 13, 2011, on extremely heavy volume of more than four million shares traded.

Plaintiff seeks to recover damages on behalf of class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud.

If you are a member of the class described above, you may move the Court, no later than April 5, 2011, to serve as lead plaintiff; however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at [phone] or Toll Free at [phone], by e-mail to [e-mail], or visit our website at http://www.glancylaw.com.