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Law Offices of Howard G. Smith Announces Investigation On Behalf of Investors of Yongye International, Inc.

BENSALEM, Pa. -- Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of purchasers of the securities of Yongye International, Inc. ("Yongye" or the "Company") (NASDAQ:YONG) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company regarding Yongye's business, operations and financial prospects were false and misleading.

Yongye engages in the development, manufacture and distribution of fulvic acid-based liquid and powder nutrient compounds for plant and animal feed used in the agriculture industry in the People's Republic of China. The investigation is related to an analyst report issued May 18, 2011, by Absaroka Capital Management, LLC, which alleged, among other things, that the Company has misrepresented and/or failed to disclose material adverse information concerning Yongye's approximately $35 million acquisition of a lignite coal project in Wuchuan County, China, and that the Company has misrepresented the development and efficacy of Yongye's main fertilizer product - Shengmingsu. Following these disclosures, Yongye's share price dropped approximately 18%, to close on May 19, 2011, at $3.52 per share on heavy trading volume of more than 4.7 million shares traded.

If you purchased Yongye securities, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Comment:Law Offices of Howard G. Smith Announces Investigation On Behalf of Investors of Yongye International, Inc.
Publication:Business Wire
Geographic Code:1U2PA
Date:May 21, 2011
Words:325
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