| Company: | Orient Paper |
| Ticker Symbol: | ONP |
| Class Period: | Mar-27-09 to Jul-22-10 |
| Date Filed: | Aug-26-10 |
| Lead Plaintiff Deadline: | Oct-25-10 |
| Court: | Central District of California |
| Allegations: | |
The Complaint alleges that Orient Paper and certain of its officers and directors misrepresented the Company's financial performance, business prospects, and financial condition. The Complaint also alleges that the Company's revenues were overstated and that the Company exaggerated the extent of its business operations. On June 28, 2010, an entity calling itself Muddy Waters released a report containing facts indicating that Orient Paper had issued false financial statements and press releases. The report was followed by a series of back-and-forth accusations between Muddy Waters and the Company. On July 16, 2010, Orient Paper announced that it would retain a law firm and an accounting firm to conduct an investigation into the issues raised by Muddy Waters. Following these disclosures, Orient Paper's share price dropped substantially, damaging shareholders.
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.
