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Case ID: 5173 | Stocks | 09/08/2008
According to a law firm press release, plaintiffs filed a class action lawsuit on behalf of all purchasers of China Shenghuo Pharmaceutical Holdings, Inc. allegiving violations of the Securities Exchange Act of 1934.
The complaint charges that CSP and certain of its officers and directors violated Sections 10(b) and 20(a) of the 1934 Act by issuing materially false and misleading statements pertaining to CSP's business prospects and condition, and filing materially false financial statements with the SEC. On August 20, 2008, the Company announced that its previously issued financial statements for the fiscal periods ended June 30, September 30, and December 30, 2007 and fiscal quarter ended March 31, 2008, should no longer be relied upon and would be restated due to certain accounting errors, internal control issues and related matters. News that the Company's financial statements must be restated caused the Company's stock price to fall dramatically damaging investors.
At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Stocks Cases of Interest A class action has been filed against China Energy Savings Technology Inc. (CESV), certain of its officers and directors by stockholders who purchased the company's common stock between April 21, 2005 and February 15, 2006. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. According to a law firm press release, a class action complaint was filed against NVIDIA and its to top officers for violations the Securities Exchange Act of 1934. A class action has been filed against Van der Moolen Holding N.V. (NYSE: VDM) and certain of its officers and directors by stockholders who purchased the company's American Depository Receipts (ADRs) between October 18, 2001, and October 15, 2003. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. A class action lawsuit has been filed in the Western District Court of Missouri against Thomas A. Brown for violations of the Investment Company Act. Class members seek compensatory damages, disgorgement of the fees paid to the investment advisors and punitive damages. A class action has been filed against International Business Machines Corporation (IBM) (NYSE:IBM), certain of its officers and directors by stockholders who purchased the company's common stock between April 05, 2005 and April 15, 2005. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. Several class actions have been filed against temporary nurse staffing company Cross Country Healthcare, Inc., (Nasdaq:CCRN) and certain of its officers and directors by stockholders who purchased the company's common stock between October 25, 2001, and August 6, 2002. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. |
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