The Rosen Law Firm, P.A. Announces Investigation of SinoTech Energy Ltd.
16 Agosto 2011 - 11:00PM
Business Wire
The Rosen Law Firm, P.A. announces that it is investigating
potential securities claims against SinoTech Energy Ltd. (NASDAQ:
CTE) resulting from allegations that the company may have issued
materially misleading financial statements and business information
to the investing public.
On August 16, 2011, a report was issued by the Alfred Little
website raising a number of potential red flags of fraud at
SinoTech Energy. The report claims that (a) SinoTech Energy’s five
largest subcontracting customers appear to be shell companies with
unverifiable operations and minimal revenues; (b) SinoTech Energy’s
sole chemical supplier appears to be an empty shell, with little or
no revenues, a deserted office and no signs of production activity;
and (c) SinoTech’s audited financial statements filed with Chinese
authorities confirm the Company’s negligible business
operations.
The Rosen Law Firm is preparing a securities class action
lawsuit on behalf of SinoTech Energy shareholders to recover their
investment losses. If you purchased SinoTech securities, please
visit the website at http://rosenlegal.com to participate in the
class action and to obtain more information. You may also contact
Phillip Kim of The Rosen Law Firm toll free at 866-767-3653 or via
e-mail at pkim@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
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