SkyPeople Fruit Juice, Inc SPU Securities Fraud

April 21 2011 - by Lucy Campbell

Company:	SkyPeople Fruit Juice, Inc
Ticker Symbol:	SPU
Class Period:	Mar-31-10 to Apr-4-11
Date Filed:	Apr-20-11
Lead Plaintiff Deadline:	Jun-19-11
Court:	Southern District of New York.
Allegations:

New York, NY: A securities class action lawsuit has been filed on behalf of investors who purchased SkyPeople Fruit Juice, Inc. (NASDAQ: SPU) securities during the period from March 31, 2010 to April 4, 2011. No class has yet been certified.

The Complaint alleges that SkyPeople engaged in undisclosed related party transactions in violation of the federal securities laws. On March 31, 2010, the Company issued its Annual Report on Form 10-K for the year ending December 31, 2009. The Company stated that there were no related party transactions that year. On April 1, 2011, the Company issued its Annual Report on Form 10-K for the year ending December 31, 2010. It stated that one of the Company' major acquisitions in 2009, Yingkou Trusty Fruits Co., Ltd., had been 46% owned by a company which in turn was 80% owned by SkyPeople' CEO and 20% owned by a director of SkyPeople.

On April 1, 2011, Roth Capital Partners cut their price target for SkyPeople from $13 to $4.50, citing concerns about related party transactions. From March 31, 2011 to April 4, 2011 (two trading days), SkyPeople stock price fell from $4.41 per share to $3.57 per share, 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.

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