China Sky One Medical, Inc CSKI Securities Stock Fraud

Company:	China Sky One Medical, Inc
Ticker Symbol:	CSKI
Class Period:	Apr-16-09 to Feb-14-12
Date Filed:	Feb-24-12
Lead Plaintiff Deadline:	Apr-24-12
Court:	Southern District of New York
Allegations:

New York, NY: A securities class action has been filed in the United States District Court, Southern District of New York, on behalf of all persons who purchased China Sky One Medical, Inc. ("China Sky" or the "Company) securities between April 16, 2009 and February 14, 2012, inclusive (the "Class Period"). This class action is brought under the Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 against the Company and certain of its top officials.

China Sky manufactures pharmaceutical and medicinal products and diagnostics kits. The Complaint alleges that throughout the Class Period, China Sky made false and/or misleading statements and/or failed to disclose that: (1) the Company improperly inflated earnings; (2) the Company's gross margins were inflated; (3) the Company lacked adequate internal and financial controls; and (4) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.

On February 15, 2012, the Company disclosed the resignation of 26 middle-management level employees, nine of whom worked in the Company's accounting department. On that same day, NASDAQ announced it had halted trading in the stock until it received adequate "additional information requested" from the Company. On these revelations, China Sky's shares declined $0.43 per share or 28%, to close at $1.10 on February 15, 2012.

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.

China Sky One Medical, Inc CSKI Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible China Sky One Medical, Inc securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.
Published on Feb-24-12