LAWSUITS NEWS & LEGAL INFORMATION
Qiao Xing Universal Resources, Inc XING Securities Stock Fraud
|Company:||Qiao Xing Universal Resources, Inc|
|Class Period:||Jul-15-11 to Apr-16-12|
|Lead Plaintiff Deadline:||Jun-30-12|
|Court:||District Court of the Virgin Islands|
The Complaint charges the company and certain of its present and former officers and directors with violations of federal securities laws and that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose material adverse facts about XING's business. Specifically, the Complaint alleges that defendants failed to disclose that in June 2011 the Company's then Chairman Wu Rui Lin transferred Company funds to a bank account under his control.
On April 16, 2012 NASDAQ halted trading in XING shares. Then on April 20, 2012 the company announced that its Audit Committee determined to commence an internal investigation into a transfer of funds from a company subsidiary's bank account to an account controlled by Lin.
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.
Qiao Xing Universal Resources, Inc XING Securities Fraud Legal HelpIf you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Qiao Xing Universal Resources, Inc securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.
Published on May-2-12
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