CASES
China-Biotics, Inc.
Class Period: Jul 10, 2008 to Aug 30, 2010
Lead Plaintiff Deadline: Nov 16, 2010 + Deadline passed
Summary of Case:
A securities class action has been filed against China-Biotics, Inc. (CHBT) ("China-Biotics" or the "Company") on behalf of all securities purchasers from July 10, 2008 through August 30, 2010, inclusive ("Class Period"), in the United States District Court for the Central District of California.
The complaint alleges that during the Class Period defendants misled investors about the quality, nature, and quantity of China-Biotics purported retail outlets and stores. Furthermore, China-Biotics' fiscal 2008 financial statements filed with the SEC are materially false because the Company's fiscal 2008 financial statements filed with Chinese authorities reported merely a fraction of the cash, revenue and income set forth in the Company's 2008 financial statements with the SEC. The Complaint asserts that when this adverse information began to enter the market, the price of China-Biotics securities dropped, damaging investors.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.