| Company: | China Agritech |
| Ticker Symbol: | CAGC |
| Class Period: | Feb-8-10 to Feb-3-11 |
| Date Filed: | Feb-11-11 |
| Lead Plaintiff Deadline: | Apr-12-11 |
| Court: | Central District of California |
| Allegations: | |
The Complaint alleges China Agritech issued materially false and misleading financial statements. Particularly, the Complaint alleges that on or about February 3, 2011, analyst firm LM Research issued a report (the "Report") alleging, among other things, that the Company's statement of revenue and earnings for the fiscal year 2009 are materially false and misleading.
The Report, citing sources, claims that China Agritech's U.S. financial statements were materially different than the financial statements filed with Chinese authorities by a number of the Company's subsidiaries. The report claims that the revenue reported in the Company's SEC filings for 2009 is ten times larger than what the Chinese regulatory reports show. The LM Research report also noted a number of potential badges of fraud within the Company. The Complaint alleges that when these disclosures of potential fraud concerning China Agritech were revealed to the market, the price of China Agritech 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.
