Law Offices of Howard G. Smith, Representing Investors of Puda Coal, Inc., Announces a June 13, 2011 Deadline to Move for Appoin
27 April 2011 - 11:30AM
Law Offices of Howard G. Smith, representing investors of Puda
Coal, Inc., announces a June 13, 2011 deadline to move to be a lead
plaintiff in the class action lawsuit filed in the United States
District Court for the Southern District of New York on behalf of
all purchasers of the securities of Puda Coal, Inc. ("Puda" or the
"Company") (Amex:PUDA) between November 13, 2009, and April 11,
2011, inclusive (the "Class Period").
Puda, through its indirect equity ownership in Shanxi Puda Coal
Group Co., Ltd. ("SPCG"), its sole operating subsidiary, supplies
metallurgical coking coal to the industrial sector in the People's
Republic of China. The Complaint alleges that throughout the
Class Period defendants misrepresented and/or failed to disclose,
among other things: (1) that the Company's Chairman, Ming Zhao
("Zhao"), had transferred ownership/shares of SPCG to himself
through a series of transactions; (2) that Zhao had sold 49% of
SPCG; (3) that, as a result, Puda did not possess the ownership
interests in SPCG that the Company claimed to possess; (4) that the
Company lacked adequate internal and financial controls; and (5)
that, as a result of the foregoing, the Company's statements were
materially false and misleading at all relevant times.
No class has yet been certified in the above action. Until a
class is certified, you are not represented by counsel unless you
retain one. If you purchased Puda securities between November
13, 2009, and April 11, 2011, you have certain rights and have
until June 13, 2011, to move for lead plaintiff status. To be
a member of the class you need not take any action at this time,
and you may retain counsel of your choice. If you wish to discuss
this action or have any questions concerning this Notice or your
rights or interests with respect to these matters, please contact
Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone
at (215)638-4847, Toll-Free at (888)638-4847, by email to
howardsmith@howardsmithlaw.com or visit our website at
http://www.howardsmithlaw.com.
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215) 638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
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