The Complaint asserts violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 against China Green and certain of its present and former officers and directors for making material misstatements and omissions about the Company’s true financial condition. According to the Complaint, during the Class Period, Defendants misled investors about the quality and nature of China Green’s reported financial statements.
The Complaint also alleges that the Company’s fiscal 2010 financial statements filed with the SEC are materially false and misleading.In fact, China Green’s comparable 2010 financial statements filed with Chinese authorities materially differed from the financial results set forth in the Company’s SEC filings. China Green’s false and misleading statements during the Class Period inflated the price of the Company’s securities.The Complaint asserts that when this adverse information was finally disclosed to the market, the price of the Company’s securities dropped, damaging shareholders.
If you purchased China Green shares during the Class Period and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court no later than December 14, 2010.You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action.Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.
Saxena White P.A., which has offices in Boca Raton, Boston and Montana, specializes in prosecuting securities fraud and complex class actions on behalf of institutions and individuals.Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.