Cohen, Milstein, Hausfeld & Toll, P.L.L.C. Files Class Action Lawsuit against China Shenghuo Pharmaceutical Holdings, Inc.WASHINGTON -- The law firm Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , Milstein, Hausfeld & Toll, P.L.L.C. has filed a lawsuit in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. for the Southern District of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of on behalf of its client and on behalf of other similarly situated similarly situated adj. with the same problems and circumstances, referring to the people represented by a plaintiff in a "class action," brought for the benefit of the party filing the suit as well as all those "similarly situated. purchasers of China Shenghuo Pharmaceutical Holdings, Inc. ("CSP (1) (Certified Systems Professional) An earlier award for successful completion of an ICCP examination in systems development. See ICCP. (2) (Commerce Service P " or the "Company") (AMEX AMEX See: American Stock Exchange :KUN) common stock during the period between July 23, 2007 through August 20, 2008, inclusive (the "Class Period"). The complaint charges CSP and certain of its officers and directors with violations of the Securities Exchange Act of 1934 (the "Exchange Act"). CSP is a Delaware Corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. with its principal executive offices located in Kunming within the Yunnan province of the People's Republic of China. CSP and its subsidiaries engage in the research, development, manufacture, and marketing of pharmaceutical, nutritional supplement, and cosmetic products. The complaint alleges that, during the Class Period, Defendants issued numerous materially false and misleading statements and violated Generally Accepted Accounting Principle's which caused CSP's securities to trade at artificially inflated prices. More specifically, the complaint alleges that on August 20, 2008, the Company announced that it would delay the filing of its second quarter Form 10-Q Form 10-Q See 10-Q. with the Securities Exchange Commission due to "a pending internal investigation being conducted by the [Company's] Audit Committee of the Board of Directors . . . regarding errors in the accounting for certain sales representative commission advances and trade receivables, the Company's internal controls, the Company's personnel involved and related matters." Moreover, the complaint alleges that the Company announced that "pending conclusion of the investigation, the Company will restate its financial statements for its fiscal periods ended June 30, September 30, and December 30, 2007 and fiscal quarter ended March 31, 2008, and [that they] . . . should not be relied upon at this time." Lastly, the complaint alleges that the Company warned its investors that it "may face potential delisting proceedings by the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. ('AMEX')." According to the complaint, on this news, the Company's share price fell almost 20% to close at $1.89 on August 20, 2008. If you are a member of the class, you may, no later than October 22, 2008, request that the Court appoint you as Lead Plaintiff of the class. Any member of the purported class may move the Court to serve as Lead Plaintiff through counsel of their choice or may choose to remain an absent class member. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Philadelphia, Chicago, San Francisco, and London, and is active in major litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. pending in federal and state courts throughout the nation. You may visit the firm's website at www.cmht.com. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total in the billions of dollars. If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following: Steven J. Toll, Esq. Tyler Gaffney Cohen, Milstein, Hausfeld & Toll, P.L.L.C. 1100 New York Avenue, N.W. West Tower, Suite 500 Washington, D.C. 20005 Telephone: (888) 240-0775 or (202) 408-4600 Email: stoll@cmht.com or tgaffney@cmht.com |
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