Dyer & Berens LLP Files Class Action Lawsuit on Behalf of Investors Who Purchased Puda Coal, Inc. Common Stock Between 11/13/09
18 Abril 2011 - 1:27PM
Marketwired
Dyer & Berens LLP (www.DyerBerens.com) today announced that it
has filed a class action lawsuit in the United States District
Court for the Southern District of New York on behalf of investors
who purchased Puda Coal, Inc. ("Puda" or the "Company") (NYSE Amex:
PUDA) common stock between November 13, 2009 and April 11, 2011,
inclusive (the "Class Period").
What actions may I take at this time? If you purchased shares
during the Class Period and wish to serve as a lead plaintiff, you
must request appointment by the court no later than June 13, 2011.
If you would like to discuss this action, the lead plaintiff
process, or have any questions concerning this notice, please
contact plaintiff's counsel, Jeffrey A. Berens, Esq. at (888)
300-3362 x302 or via email at jeff@dyerberens.com. Any member of
the putative class may request a lead plaintiff appointment through
counsel of its choice or may choose to do nothing and remain an
absent class member.
What are the allegations in the complaint? The complaint alleges
that, throughout the Class Period, defendants failed to disclose
material adverse facts about the Company's true financial
condition, business and prospects. Specifically, the complaint
alleges: (i) that, prior to the beginning of the Class Period,
certain of the individual defendants fraudulently transferred
Puda's ownership interest to defendant Ming Zhao; (ii) that Puda
was nothing more than a shell company during the Class Period;
(iii) that Puda's reported operating results and financial
condition were materially overstated; (iv) that Puda's financial
statements were not fairly presented in conformity with U.S.
Generally Accepted Accounting Principles and were materially false
and misleading; (v) that Puda was operating with material
deficiencies in its system of internal control over its financial
reporting; and (vi) that defendants lacked a reasonable basis for
their positive statements about the Company, its prospects and
growth. Based upon the foregoing, the complaint charges Puda and
certain of its officers with violations of the Securities Exchange
Act of 1934.
About Dyer & Berens LLP. The plaintiff is represented by
several law firms, including Dyer & Berens LLP, which has
expertise in prosecuting investor class actions involving financial
fraud. The firm's extensive experience in securities litigation,
particularly in cases brought under the Private Securities
Litigation Reform Act, has contributed to the recovery of hundreds
of millions of dollars for aggrieved investors.
Contact: Jeffrey A. Berens Dyer & Berens LLP 303 East 17th
Avenue, Suite 300 Denver, CO 80203 Tel: (888) 300-3362 x302 Email:
Email Contact Website: www.DyerBerens.com
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