Abraham, Fruchter & Twersky, LLP Has Been Retained to File a Class Action Lawsuit against Duoyuan Printing, Inc.
22 Setembro 2010 - 3:21PM
Business Wire
Abraham, Fruchter & Twersky, LLP announces that it has been
retained to file a class action law suit on behalf of purchasers of
Duoyuan Printing, Inc. (“Duoyuan Printing” or the “Company”)
(NYSE:DYP) stock between November 6, 2009 through September 13,
2010 (the “Class Period”), including purchasers of the Company’s
November 6, 2009 initial public offering of common stock.
The Complaint alleges that throughout the Class Period,
defendants failed to disclose (1) that the authenticity of certain
of the Company's expenses related to advertising and tradeshow
costs could not be verified; (2) that the Company had improper
relationships with certain vendors and distributors; and (3) that
the Company lacked adequate internal and financial controls. As a
result, the Company's financial statements were materially false
and misleading at all relevant times.
On September 13, 2010, Duoyuan Printing disclosed that the
Company dismissed its independent registered public accounting
firm, Deloitte Touche Tohmatsu CPA Ltd., and was reorganizing its
top management in connection with Duoyuan Printing's "desire to
resolve open issues and file our 10-K on a timely basis." Moreover,
the Company's Chief Executive Officer, Chief Financial Officer and
four members of the Company's Board of Directors resigned after the
dismissal of Deloitte. In a reaction to the Company’s revelations,
Duoyuan Printing securities declined $3.60 or more than 54% and
closed at $2.99 on September 13, 2010.
If you purchased Duoyuan Printing common stock during the Class
Period of November 6, 2009 through September 13, 2010, and you wish
to serve as lead plaintiff in this action, you must move the Court
no later than November 19, 2010. Any member of the proposed class
may move the Court to serve as lead plaintiff through counsel of
their choice, or may choose to do nothing and remain a member of
the proposed class.
If you would like to discuss this action or if you have any
questions concerning this notice or your rights as a potential
class member or lead plaintiff, you may contact: Jack G. Fruchter
or Arthur J. Chen of Abraham, Fruchter & Twersky, LLP at (800)
440-8986, or via e-mail at info@aftlaw.com or achen@aftlaw.com.
Abraham, Fruchter & Twersky, LLP has extensive experience
prosecuting securities class action cases, and the firm has been
ranked among the leading class action law firms in terms of
recoveries achieved by a survey of class action law firms conducted
by Institutional Shareholder Services.
Attorney Advertising. Prior Results Do Not Guarantee A Similar
Outcome.
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