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RINO International Corporation

rino.pk

現在値

0.00USD

変化

0.00(0.00%)

出来高

195

本日のレンジ

0.00

 - 

0.00

52週レンジ

0.00

 - 

0.18

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Pomerantz Law Firm Files Class Action Against RINO International Corporation

Pomerantz Haudek Grossman & Gross LLP has filed a class action lawsuit against RINO International Corporation and certain of its officers and directors. The class action is on behalf of a class of all persons or entities who purchased or otherwise acquired RINO securities during the period from May 15, 2008 through November 17, 2010, inclusive (the Class Period). RINO, through its subsidiaries, operates as an environmental protection and remediation company in the People's Republic of China. The Company engages in designing, manufacturing, installing, and servicing wastewater treatment and flue gas desulphurization equipment primarily for use in the iron and steel industry; and anti-oxidation products and equipment for use in the manufacture of hot rolled steel plate products. The Complaint alleges that throughout the Class Period, defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects.

Milberg LLP Announces Filing Of Securities Fraud Class Action Lawsuit Against RINO International Corporation

Milberg LLP announced that a class action lawsuit was filed in the United States District Court for the Central District of California on behalf of purchasers of RINO International Corporation (RINO) from July 13, 2009 to November 12, 2010, inclusive (Class Period). The complaint alleges RINO and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The complaint alleges that RINO, a Chinese manufacturer of environmental protection equipment, fraudulently reported inflated revenues to the SEC that were, for 2009, more than 90% higher than revenues reported to Chinese regulators. On November 10, 2010, a research firm reported that RINO executives allegedly engaged in a wide range of wrongful conduct, including inflating the Company's reported sales revenues and fabricating customer contracts. In response to this news, the price of RINO's common stock fell $2.34 per share, or more than 15%, to close at $13.18 per share on November 11, 2010.

Rigrodsky & Long, P.A. Files Class Action Lawsuit Against RINO International Corporation

The law firm of Rigrodsky & Long, P.A. announced that it has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of all persons or entities who purchased the common stock of RINO International Corporation between May 15, 2008 through November 19, 2010, inclusive, seeking to pursue remedies under the Securities Exchange Act of 1934. The case is styled as Chau v. RINO International Corporation, et al., No. CV10-09517-RGK (PJWx) (C.D. Cal.). The Complaint names RINO and certain of the Company’s current and former executive officers and directors as defendants. The Complaint alleges that during the Class Period, defendants made materially false and misleading statements, and/or omitted material facts. Specifically, throughout the Class Period, the Company represented that it was experiencing steady financial growth due, in large part, to the success of its Flue Gas Desulphurization equipment (FGD) sales. However, unbeknownst to the market, while RINO was reporting increasingly favorable financial results driven by its FGD business, certain of its reported contracts were, in fact, non-existent and, therefore, the Company’s publicly reported financial statements materially inaccurate. The truth began to emerge on November 10, 2010 when Muddy Waters, LLC (MW) issued a research report about, and a Strong Sell recommendation for, the Company.

Berman DeValerio Files Securities Class Action Against RINO International Corporation

The law firm of Berman DeValerio announced that it has filed a securities fraud lawsuit on behalf of investors who purchased or otherwise acquired the common stock of RINO International Corporation from July 13, 2009 to November 12, 2010, inclusive (Class Period). Berman DeValerio filed the class action complaint against RINO International Corporation and certain of the Company’s directors and officers in the United States District Court for the Central District of California (Court). The case is captioned as Zhang v. RINO International Corp. et al., No. SACV-10-01887-CJC (RNBx). The complaint alleges RINO International Corporation and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (Exchange Act) and Securities and Exchange Commission (SEC) Rule 10b-5. Specifically, the complaint asserts that RINO, a Chinese manufacturer of environmental protection equipment for China’s iron and steel industry, fraudulently reported inflated revenues to the SEC and the investing public that were, for 2009, over 90% higher than the revenues reported to Chinese regulators. In particular, the complaint alleges that RINO International Corporation misled investors by reporting revenue from at least two customer contracts that did not exist.

The Shuman Law Firm Announces Filing Of Class Action Lawsuit Against RINO International Corporation

The Shuman Law Firm announced that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of purchasers of the common stock of RINO International Corporation between February 17, 2009 and November 12, 2010, inclusive. Also included are those who purchased in the direct Offering in December 2009. The Complaint charges RINO International Corporation and certain of its officers and directors with violations of federal securities laws. Specifically, the Complaint alleges that defendants failed to disclose that the Company's financial results were inflated and were inconsistent with results reported to tax authorities in China. During the Class Period, while RINO International Corporation stock was allegedly artificially inflated, the Company consummated a direct offering of nearly 3.3 million shares of common stock at $30.75 per share. On November 10, 2010, a research firm issued a report claiming that RINO International Corporation had fabricated customer relationships and inflated revenue, noting the discrepancy between RINO's revenue of $192.6 million reported in its fiscal 2009 Form 10-K and its revenue of $11 million reported in its annual report for fiscal 2009 filed with the China State Administration of Industry and Commerce. On November 15, 2010, RINO announced disappointing third quarter 2010 results and reduced its revenue forecast for 2010. On this news, RINO's stock collapsed to $7.55 per share.

Cabraser Heimann & Bernstein, LLP Announces Class Action Lawsuits Against RINO International Corporation

Cabraser Heimann & Bernstein, LLP announced that class action lawsuits have been brought on behalf of purchasers of the securities of RINO International Corporation (“RINO” or the “Company”) between February 17, 2009 and November 12, 2010, inclusive (Class Period).

The Law Office Of Robbins Umeda LLP Announces Investigation Of RINO International Corporation

Robbins Umeda LLP announced that it has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at RINO International Corporation. The investigation concerns whether certain of RINO's officers and directors failed to disclose that the Ccompany's financial results were inflated and inconsistent with results reported by RINO to tax authorities in China. As a result of the inflation, the Company was apparently able to consummate a registered direct offering of nearly 3.3 million shares of its common stock at $30.75 per share in December 2009. In addition, The investigation concerns whether certain of RINO's officers and directors breached their fiduciary duty by allowing the Company to report revenue for the 2008 and 2009 fiscal years based on contracts that RINO never entered into. On November 10, 2010, Muddy Waters, LLC posted a report about RINO's business practices, claiming that RINO had inflated revenue and allowed management to use the Company's money to buy a luxury home in Orange County, California. Muddy Waters, LLC also reported a large discrepancy between RINO's revenue of $192.6 million reported in its fiscal 2009 Form 10-K filed with the U.S. Securities and Exchange Commission, and its revenue of $11 million reported in its annual report for fiscal 2009 filed with the China State Administration of Industry and Commerce.

Hagens Berman Sobol Shapiro LLP Announces Class Action Suit Against RINO International Corporation

Hagens Berman Sobol Shapiro LLP announced that a class-action lawsuit has been filed against RINO International Corporation in the U.S. District Court of the Central District of California alleging that RINO International Corporation artificially inflated its stock price by misleading investors about the Company's financial results. The deadline to move to be a lead plaintiff is January 11, 2011. On Nov. 12, 2010, trading in RINO International Corporation stock halted just days after a small research firm posted a report alleging that RINO International Corporation had engaged in a variety of fraudulent activities, including inflating revenues and fabricating customer relationships. During trading on Nov. 10, 2010 RINO International Corporation's common stock fell $2.34 per share, closing at $13.18 per share. The filed complaint alleges that RINO International Corporation artificially inflated its stock price by grossly inflating the Company's financial results. In addition, these financial results were inconsistent with amounts reported to Chinese tax authorities. According to the complaint, RINO International Corporation and certain company executives made materially false and misleading statements regarding the Company's business and operations in violation of the Securities Exchange Act of 1934.

Finkelstein Thompson Investigates RINO International Corporation

Finkelstein Thompson announced that it is investigating potential shareholder claims stemming from recent allegations that RINO International Corporation (RINO) may have violated the federal securities laws. This investigation is based on allegations that RINO grossly inflated its financial results, that RINO fabricated customer relationships that did not exist, and that RINO allowed its management to use company money to buy a luxury home in Orange County, California. The allegations were revealed in a report published on November 10, 2010 by the research firm Muddy Waters, LLC. RINO shares have lost over half their value since that report was released. Then, on November 19, 2010, RINO revealed that it had not actually entered into two customer contracts for which it reported revenue in 2008 and 2009, and that its financial statements for those periods should not be relied on. At present, trading in the stock has been halted by NASDAQ.

Izard Nobel LLP Announces Class Action Lawsuit Against RINO International Corporation

The law firm of Izard Nobel LLP announced that a lawsuit seeking class action status has been filed in the United States District Court for the Central District of California on behalf of purchasers of the common stock of RINO International Corporation ("RINO" or the "Company") between February 17, 2009 and November 12, 2010, inclusive (the "Class Period"). Also included are those who purchased in the direct Offering in December 2009. The Complaint charges RINO and certain of its officers and directors with violations of federal securities laws. Specifically, defendants failed to disclose that the Company's financial results were inflated and were inconsistent with results reported to tax authorities in China. During the Class Period, while RINO stock was artificially inflated, the Company consummated a direct offering of nearly 3.3 million shares of common stock at $30.75 per share.

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