| Company: | China Valves Technology, Inc. |
| Ticker Symbol: | CVVT |
| Class Period: | Jan-12-10 to Jan-13-11 |
| Date Filed: | Feb-4-11 |
| Lead Plaintiff Deadline: | Apr-5-11 |
| Court: | Southern District of New York |
| Allegations: | |
The case is pending in the U.S. District Court for Southern District of New York, as case no. 11 CV 796. No class has yet been certified in this action.
The Complaint asserts violations of the Securities Exchange Act against China Valves and its officers and directors for misrepresenting the nature, circumstances, and related party nature of the Company's acquisitions of Able Delight (Changsha) Valve Co. and Shanghai Pudong Hanwei Valve Co., Ltd. The Complaint asserts that defendants concealed that both acquisitions involved payments to entities or persons that were related to management in violation of generally accepted accounting principles and SEC rules. The Complaint also alleges that Defendants materially overstated the financial condition and business prospects of the acquired companies. When the market learned of this adverse information, the price of China Valves stock dropped damaging investors.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
