NEW YORK, May 31, 2012 /PRNewswire/ -- Bronstein, Gewirtz
& Grossman, LLC announces that a class action suit was filed in
the United States District Court for the District Court of the
Virgin Islands on behalf of
purchasers of the common stock of Tibet Pharmaceuticals, Inc.
("Tibet Pharmaceuticals" or the "Company") (OTC Markets: TBET
-News), who purchased shares after December
28, 2010 (the "Class Period").
The Complaint asserts violations of the federal securities laws
against Tibet Pharmaceuticals, its officers and directors, and
underwriters for issuing inaccurate statements of material fact
about the Company's true financial and business condition, which
ultimately caused the Tibet Pharmaceutical's stock to be halted by
the NASDAQ and delisted. The Complaint alleges defendants
misrepresented and failed to disclose material internal control
deficiencies, which rendered the Company's registration statement
and prospectus to be materially false and misleading.
No Class has yet been certified in the above action. If you wish
to review a copy of the Complaint, to discuss this action, or have
any questions, please contact either Peretz
Bronstein or Eitan Kimelman
of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via
email eitan@bgandg.com. Those who inquire by e-mail are encouraged
to include their mailing address and telephone number. July 25, 2012 is the deadline for investors to
seek a lead plaintiff appointment.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484
eitan@bgandg.com
SOURCE Bronstein, Gewirtz & Grossman, LLC