The Complaint names China Green Agriculture and certain of the Company’s current and former executive officers as defendants. The Complaint alleges that during the Class Period, defendants made materially false and misleading statements, and/or omitted material facts, all which raise significant concerns about the Company’s future stability and have caused the stock price to steadily decline. These statements have been questioned by many analysts and financial oversight groups, including the International Financial Research & Analysis Group (“IFRA”).
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 Agriculture’s comparable 2010 financial statements filed with Chinese authorities materially differed from the financial results set forth in the Company’s SEC filings. As a result, China Green Agriculture’s false and misleading statements during the Class Period inflated the price of the Company’s securities.
While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
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