The Law Firm of Levi & Korsinsky Notifies Investors with Losses on Their Investment in China Sky One Medical, Inc. of Class A...
28 February 2012 - 8:22AM
Business Wire
Levi & Korsinsky announces that a class action lawsuit has
been commenced in the United States District Court for the Southern
District of New York on behalf of investors who purchased China Sky
One Medical, Inc. (“China Sky One” or the “Company”) (Nasdaq: CSKI)
stock between April 16, 2009 and February 14, 2012 (the “Class
Period”).
For more information, click here:
http://www.zlk.com/china-sky-one-medical-cski. There is no cost or
obligation to you.
The Complaint alleges that defendants misrepresented and/or
failed to disclose that China Sky One’s earnings and gross margins
were inflated, and that the Company lacked adequate internal and
financial controls. On May 19, 2011, China Economic Review
published an article warning that China Sky One’s financial results
were suspect, based on a comparison of the Company and its
competitors.
On February 15, 2012, the Company announced that its Chief
Executive Officer was being treated for a life threatening illness
and was taking a medical leave of absence, and that 26
middle-management level employees, including nine from the
accounting department, had resigned. As a result of the foregoing
disclosures, the price of China Sky One common stock fell
approximately 28%, from $1.53 per share on February 14, 2012 to
close at $1.10 per share on February 15, 2012.
If you suffered a loss in China Sky One you have until April 24,
2012 to request that the Court appoint you as lead plaintiff. Your
ability to share in any recovery doesn't require that you serve as
a lead plaintiff. To obtain additional information, contact Joseph
E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at
(877) 363-5972, or visit http://www.zlk.com.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. Attorney advertising. Prior results do not guarantee
similar outcomes.
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