Brower Piven Encourages Investors Who Have Losses in Excess of $1,000,000 From Investment in Duoyuan Printing, Inc. to Inquire A
24 Setembro 2010 - 12:57PM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Southern District of New York on behalf of purchasers
of the securities of Duoyuan Printing, Inc. ("DYP" or the
"Company") (NYSE: DYP) pursuant and/or traceable to the
Registration Statement and Prospectus issued in connection with the
Company's November 6, 2009 initial public offering and purchasers
of the Company's securities during the period from November 6, 2009
and September 13, 2010, inclusive (the "Class Period").
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the Company's failure
to disclose during the Class Period that the authenticity of
certain of DYP's expenses related to advertising and tradeshow
costs could not be verified; that the Company had improper
relationships with certain vendors and distributors; that, as a
result, the Company's financial results were misstated during the
Class Period; that the Company lacked adequate internal and
financial controls; and that, as a result of the above, the
Company's financial statements were materially false and misleading
at all relevant times.
After the Company, on September 13, 2010, disclosed that it had
dismissed its independent registered public accounting firm,
Deloitte Touche Tohmatsu CPA Ltd., and was reorganizing its top
management in connection with DYP's "desire to resolve open issues
and file our 10-K on a timely basis," and after 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, the value of Duoyuan Printing's shares declined
significantly.
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than November 19, 2010 and be selected by the
Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in the Company
during the Class Period. You are not required to have sold your
shares to seek damages or to serve as a Lead Plaintiff.
If you have suffered a net loss for all transactions in Duoyuan
Printing, Inc. securities during the Class Period (including shares
or possibly calls purchased during, but not sold until after the
end of the Class Period or possibly put options sold but not
covered until after the end of the Class Period), you may obtain
additional information about this lawsuit and your ability to
become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by
calling 410/415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating
securities and class action cases of over 50 years. If you choose
to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your
choice. You need take no action at this time to be a member of the
class.
CONTACT: Charles J. Piven Brower Piven, A Professional
Corporation Stevenson, Maryland 410/415-6616 Email Contact
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