| Company: | Wonder Auto Technology, Inc. |
| Ticker Symbol: | WATG |
| Class Period: | May-14-08 to May-6-11 |
| Date Filed: | Jun-13-11 |
| Lead Plaintiff Deadline: | Aug-12-11 |
| Court: | Southern District of New York |
| Allegations: | |
The Complaint charges Wonder Auto and certain of its officers and directors violated federal securities laws. Specifically the Complaint alleges: (i) the Company improperly recognized revenue; (ii) the Company's subsidiaries improperly recorded its sales and costs of sales; (iii) the Company failed to report that it had entered into several related-party transactions; (iv) the Company lacked adequate internal and financial controls; and (v) the Company's statements were materially misleading.
On March 1, 2011, Wonder Auto announced that its financial statements for 2008 and 2009 and interim reports for those periods should no longer be relied upon. On May 6, 2011, NASDAQ halted the trading of Wonder Auto stock. On May 12, 2011, the Company disclosed that its Audit Committee had initiated an internal investigation concerning certain investment and acquisition transactions. On May 20, 2011, the Company announced that the investigation was commenced in response to allegations that the Company had failed to properly disclose related-party transactions. Currently, shares of Wonder Auto are halted.
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.
