NEW YORK, Dec. 21, 2011
/PRNewswire/ -- Deer Consumer Products, Inc. (Nasdaq: DEER)
(website: http://www.deerinc.com/), a leading provider of "DEER"
branded household consumer products and a vertically integrated
manufacturer of small household and kitchen appliances for global
customers, announced today that threats from a group of U.S. and
China based short sellers led by a
fictitious group known as "Alfred
Little", have been carried out due to Deer's refusal to
withdraw a pending United States
lawsuit pending in the Supreme Court of the State of New York.
Of further interest is a press related dated December 20, 2011 issued by the New York Stock
Exchange listed Silvercorp Metals, Inc. (NYSE: SVM), titled
Silvercorp Metals Inc.: Chinese Law Enforcement Agents Open
Criminal Case to Investigate Creators of Falsified Reports.
Deer believes that short sellers established short positions in
order to benefit from a purportedly upcoming "Alfred Little" report which caused the sudden
drop in the price of Deer's common stock during the last 30 minutes
of trading before market close on December
15, 2011, as well as drop in Deer's share prices on
December 19 and December
20. This is the same conduct that caused dramatic drops in
Deer stock prices in March of this year and the very reason for the
lawsuit demanding justice against the "Little" conspirators that
this same group is now attempting to have dismissed, not via
legitimate judicial process, but via intimidation, coercion and
in terrorum threats.
Deer remains fully committed to protecting and preserving the
legal rights of the Company and its shareholders from these short
and distort activities and will not be terrorized by this group of
bandits.
About Deer Consumer Products, Inc.
Deer Consumer Products, Inc. is a NASDAQ Global Select Market
listed U.S. company with its primary operations in China . Deer has a 17-year operating business
as well as a strong balance sheet. Operated by Deer's founders and
supported by more than 100 patents, trademarks, copyrights, Deer is
a leading provider of "DEER" branded consumer products to Chinese
consumers and a leading vertically integrated manufacturer of small
home and kitchen appliances for global customers. In 2011, Deer has
paid quarterly cash dividends of $0.05 per share. As of the end of
third quarter 2011, Deer had approximately $5.15 per share in net
assets without any long-term debts.
Safe Harbor Statement
All statements in this press release that are not historical are
forward-looking statements made pursuant to the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
There can be no assurance that actual results will not differ from
the company's expectations. You are cautioned not to place undue
reliance on any forward-looking statements in this press release as
they reflect Deer's current expectations with respect to future
events and are subject to risks and uncertainties that may cause
actual results to differ materially from those contemplated.
Potential risks and uncertainties include, but are not limited to,
the risks described in Deer's filings with the Securities and
Exchange Commission.
Corporate Contact:
Helen Wang , President
Deer Consumer Products, Inc.
Tel: 011-86-755-86028300
Email: investors@deerinc.com
SOURCE Deer Consumer Products, Inc.
