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Law Offices of Howard G. Smith Announces Investigation of China Natural Gas, Inc.

BENSALEM, Pa. -- Law Offices of Howard G. Smith announces that it is investigating potential claims against China Natural Gas, Inc. ("CHNG" or the "Company") (NASDAQ:CHNG) and its Board of Directors concerning possible breaches of fiduciary duties by the Company or its fiduciaries. CHNGengages in the distribution and sale of natural gas and gasoline to commercial, industrial and residential customers in the People's Republic of China.

The investigation concerns whether the Company or its fiduciaries breached their fiduciary duties by engaging in undisclosed related-party loans that funneled millions of dollars of Company money to relatives and affiliates of the Company's chief executive officer, and whether Company management engaged in unauthorized transactions, self-dealing, and violations of generally accepted accounting principles. On November 14, 2011 the Company disclosed that the U.S. Securities and Exchange Commission has commenced an investigation into the matters surrounding certain related-party loans made by CHNG as well as the Company's acquisition of Lingbao Yuxi Natural Gas Co., Ltd.

If you are a shareholder of China Natural Gas, Inc., 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 http://www.howardsmithlaw.com.
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Comment:Law Offices of Howard G. Smith Announces Investigation of China Natural Gas, Inc.
Publication:Business Wire
Geographic Code:1U2PA
Date:Dec 15, 2011
Words:299
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