Izard Nobel LLP Announces Class Action Lawsuit Against Duoyuan Printing, Inc.
21 Settembre 2010 - 10:55PM
Marketwired
The law firm of Izard Nobel LLP, which has significant experience
representing investors in prosecuting claims of securities fraud,
announces that a lawsuit seeking class action status has been filed
in the United States District Court for the Southern District of
New York on behalf of purchasers of the securities of Duoyuan
Printing, Inc. ("Duoyuan" or the "Company") (NYSE: DYP) pursuant
and/or traceable to the Company's November 6, 2009 initial public
offering and from November 6, 2009 through September 13, 2010 (the
"Class Period").
The Complaint charges Duoyuan and certain of its officers and
directors with violations of federal securities laws. Specifically,
the Complaint alleges that defendants made misleading statements
and failed to disclose the following: (i) that the authenticity of
certain of the Company's expenses related to advertising and
tradeshow costs could not be verified; (ii) that Duoyuan had
improper relationships with certain vendors and distributors; (iii)
that, as a result, the Company's financial results were misstated
during the Class Period; and (iv) that Duoyuan lacked adequate
internal and financial controls.
On September 13, 2010, Duoyuan disclosed that the Company
dismissed its independent accounting firm and was reorganizing its
top management. Then, Duoyuan's CEO, CFO and four members of the
Company's Board of Directors resigned. On this news, Duoyuan's
shares fell $3.60 to close at $2.99 on September 13, 2010.
If you are a member of the class, you may, no later than
November 19, 2010, request that the Court appoint you as lead
plaintiff of the class. A lead plaintiff is a class member that
acts on behalf of other class members in directing the litigation.
Although your ability to share in any recovery is not affected by
the decision whether or not to seek appointment as a lead
plaintiff, lead plaintiffs make important decisions which could
affect the overall recovery for class members.
While Izard Nobel LLP has not filed a lawsuit against the
defendants, to view a copy of the Complaint initiating the class
action or for more information about the case, and your rights,
visit: www.izardnobel.com/duoyuan/, or contact Izard Nobel LLP
toll-free: (800) 797-5499, or by e-mail: firm@izardnobel.com. For
more information about class action cases in general, please visit
our website: www.izardnobel.com.
CONTACT: Nancy A. Kulesa or Wayne Boulton (800) 797-5499
www.izardnobel.com Email Contact
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