The Rosen Law Firm, P.A. announces that it is investigating potential securities claims against Keyuan Petrochemicals, Inc. (NASDAQ: KEYP) resulting from allegations that the Company may have issued materially false financial statements and information to investors.

Prior to market open on April 1, 2011 trading in the Company’s stock was halted. Thereafter, the Company issued a press release announcing that the Company would not be able to timely release its financial results for the fiscal year ended December 31, 2010. The announcement also revealed that “the accounting review conducted to date had identified various concerns” that prompted the Company’s audit committee to undertake an independent investigation.

Later in the day, the Company filed an 8-K with the SEC under item 4.02 entitled “Non-Reliance on Previously Issued Financial Statements.” According to the 8-K, the Company’s auditors informed the Company “that there is a possibility that we may be required to make certain adjustments to certain of our previously issued financial statements, and that such previously issued financial statements may not be relied upon.”

The Rosen Law Firm is preparing a securities class action lawsuit on behalf of Keyuan investors to recover investment losses. If you purchased or acquired Keyuan securities at any time prior to April 1, 2011, please visit the website at http://rosenlegal.com for more information. You may also contact Phillip Kim, Esq. or Jonathan Horne, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or jhorne@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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