NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, P.A. today announced that a class action lawsuit has been filed on behalf of investors who purchased the stock of China Sky One Medical, Inc. (Nasdaq: CSKI) between April 16, 2009 and February 14, 2012, inclusive (the “Class Period").
To join the China Sky One class action, visit the firm’s website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action, 如果您講中文,請致電張律師212-686-1060,或電郵 szhang@rosenlegal.com, 獲取該集體訴訟案件的具體信息.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint asserts violations of the federal securities laws against China Sky One and its officers and directors for issuing false and misleading information to investors about the Company’s true financial and business condition. Specifically, the Complaint alleges defendants misrepresented that: (1) the Company improperly inflated earnings; (2) the Company's gross margins were inflated; (3) the Company had adequate internal and financial controls; and (4) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.
The Complaint alleges that when this adverse information entered the market the price of China Sky One securities dropped, causing investors losses.
If you wish to serve as lead plaintiff, you must move the Court no later than April 24, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com. You may also visit the firm’s website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.