Kahn Gauthier Swick, LLC announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, on behalf of shareholders who purchased, exchanged or otherwise acquired the common stock of Bodisen Biotech, Inc. ("Bodisen" or the "Company") (Amex: BBC) between November 3, 2005 and November 10, 2006 (the "Class Period"). To speak to a lawyer now to discuss your legal rights and learn how this case may help you recover your losses, please call Managing Partner Lewis Kahn toll free, 1-866-467-1400, ext. 100, or you may email Mr. Kahn with the amount you've lost at lewis.kahn@kglg.com.
Bodisen and certain of its officers and directors are charged with issuing a series of materially false and misleading statements in violation of Section 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder. Particularly, late on November 12, 2006, Bodisen stated that it had received a letter from the American Stock Exchange warning that it is out of compliance with certain listing standards. The exchange said it believes Bodisen made insufficient or inaccurate disclosure in public filings on its relationship with, and payments to, New York Global Group and its affiliates both prior to and subsequent to its listing on the exchange. The Amex also expressed concern that Bodisen has internal control issues related to its accounting and financial reporting obligations in the context of its relationship with the company. As a result of this shocking news, Bodisen shares have tumbled almost 70% over several trading days, falling from a high of $10.84 per share on November 10, 2006, to an intraday low of $3.93 today.
If you purchased shares of Bodisen between November 3, 2005 and November 10, 2006, you are urged to CONTACT Lewis Kahn, Managing Partner, KGS, toll free 1-866-467-1400, ext. 100, via cell phone at 504-301-7900, or by email at lewis.kahn@kglg.com to learn about your legal rights and how this action may benefit you. For further information on KGS, please visit www.kglg.com.
If you wish to serve as lead plaintiff in this case, you must move the Court no later than January 15, 2007. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you would like to discuss your legal rights, you may e-mail or call KGS, without obligation or cost to you. You may contact Managing Partner Lewis Kahn of KGS direct, toll free 1-866-467-1400, ext., 100, or 504-648-1850, or by email at lewis.kahn@kglg.com. KGS focuses its practice on securities fraud litigation, and the firm's lawyers have significant experience working on securities fraud cases that have resulted in significant recoveries for shareholders. For more information on KGS, please visit www.kglg.com.
SPECIAL NOTICE: Multiple law firms often file the same class action. However, courts will generally appoint only one of these firms to prosecute a securities fraud action on behalf of the shareholders based upon the amount of losses its "lead plaintiffs" have suffered. Accordingly, while KGS urges you to sign up with the firm, KGS also encourages you to carefully evaluate any other firm that may be competing with KGS to prosecute the Bodisen class action, should you be considering another firm. Critical components of a law firm's ability to successfully prosecute this action and obtain a strong recovery for you include the resources it will dedicate to prosecution of the case, including the number of lawyers the firm has available for the Bodisen action, AND the quality of the firm's work. To view a copy of the lawsuit KGS has filed in the Bodisen case, please visit www.kglg.com.