Bronstein, Gewirtz & Grossman, LLC Announces Investigation of China Sky One Medical, Inc.
17 February 2012 - 4:27AM
Business Wire
Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is
investigating potential claims on behalf of purchasers of the
securities of China Sky One Medical, Inc. (“China Sky” or the
“Company”) (NasdaqGS: CSKI), concerning whether the company and
certain of its officers and directors have violated federal
securities laws.
On February 15, 2012, after shares of China Sky plummeted 28%,
the Nasdaq Stock Market announced that trading for the Company was
halted. China Sky announced that it’s Chairman, President, and
Chief Executive Office, Mr. Yanqing Liu, is being treated for a
life-threatening illness. In addition, 26 middle-management level
employees have resigned, of which 9 were in the accounting
department, 2 were in the internal control department, 2 were in
the information technology department, 11 were in the sales
department, and 2 were in the production center. Although the
Company is seeking to recruit personnel, it may not be able to hire
qualified personnel in a timely manner, or at all.
Mr. Liu's health concerns and the loss of such management
employees are likely to materially adversely affect many aspects of
the Company's business, including its ability to maintain customer
relationships, meet production schedules, as well as maintain its
internal controls.
If you are aware of any facts relating to this investigation, or
purchased shares of China Sky, you can assist this investigation by
contacting either Peretz Bronstein or Eitan Kimelman of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484 or via email
eitan@bgandg.com. Those who inquire by e-mail are encouraged to
include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm’s expertise includes general
corporate and commercial litigation, as well as securities
arbitration.
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