CASES
RINO International Corporation
Class Period: May 5, 2008 to Nov 19, 2010
Lead Plaintiff Deadline: Jan 11, 2011 + Deadline passed
Summary of Case:
A securities class action has been filed against Rino International Corporation (RINO) ("RINO" or the "Company") on behalf of all securities purchasers from March 31, 2009 through November 11, 2010, inclusive ("Class Period"), in the United States District Court for the Central District of California.
The complaint alleges that contrary to RINO's annual report filed with the SEC for fiscal 2009 which reported $193 million of revenue, the Company's annual report filed with the Chinese authorities reported only $11 million of revenue for 2009. This discrepancy, along with other accounting inconsistencies, and questionable transactions between RINO and its management, has raised red flags and prompted an internal review. The complaint asserts that when the market learned of this adverse information, the price of RINO stock 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.