Milberg LLP Announces the Filing of a Securities Class Action Lawsuit Against Yuhe International, Inc.
June 29 2011 - 10:16AM
A class action lawsuit was filed in the United States District
Court for the Southern District of Florida, on behalf of purchasers
of the common stock of Yuhe International, Inc. (Nasdaq:YUII)
between December 31, 2009, and June 23, 2011.
According to the complaint, on June 16, 2011, GeoInvesting
published a report that revealed to investors that Yuhe did not
acquire 13 breeder farms from Weifangshi Dajiang Group Co. Ltd, as
Yuhe represented. In reaction to the report, shares of Yuhe
fell more than 70% to close at $1.21 per share on June 17, 2011,
when NASDAQ imposed a trading halt.
On June 23, 2011, Yuhe announced that its auditor resigned due
to "management's misrepresentation and failure to disclose material
facts surrounding certain acquisition transactions and off-balance
sheet related party transactions." The auditor said Yuhe's
2010 financial statements should not be relied upon.
If you purchased Yuhe stock during the Class Period you may, no
later than August 23, 2011, file a motion with the Court to appoint
you lead plaintiff. A lead plaintiff is a representative party that
directs the litigation, and will be the movant that the Court
determines to have the largest financial interest in the litigation
with claims typical of those of other class members and the ability
to adequately represent the class. Your share in any recovery
will not be enhanced or diminished by serving as a lead plaintiff.
You do not need to be a lead plaintiff to recover in a class
action; you can recover as an absent class member. You may retain
Milberg LLP, or other attorneys, for this action, but do not need
to retain counsel to recover as an absent class member. The
complaint in this action was not filed by Milberg. Please visit the
Milberg website (www.milberg.com) for more information about the
firm. If you wish to discuss this matter with us, please
contact the following attorney:
Andrei V. Rado, Esq. Milberg LLP One Pennsylvania Plaza, 49th
Fl. New York, NY 10119-0165 Phone number: (800) 320-5081 Email:
contactus@milberg.com
Attorney Advertising. Prior Results Do Not Guarantee A Similar
Outcome.
CONTACT: Milberg LLP
(800) 320-5081
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