NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm is investigating potential securities fraud claims against Longwei Petroleum Investment Holdings Limited (NYSE MKT: LPH) resulting from allegations that the company may have issued materially misleading financial information to the investing public.
On January 3, 2012 Geoinvesting.com issued a report asserting that Longwei has exaggerated its true financial performance by claiming substantial product sales from facilities that, in reality, were either idled or showed minimal activity. The report also revealed ties between Longwei and Puda Coal - another notorious PRC fraud, for which the Rosen Law Firm is serving as court appointed co-lead counsel to investors. The report also cited numerous other red flags of fraud at Longwei that call into question the truth of Longwei’s portrayal of its financial performance.
The Rosen Law Firm is preparing a class action lawsuit as a result of this adverse information. If you purchased Longwei securities prior to January 3, 2013, you may visit the website at http://rosenlegal.com to join the action. You may also contact Phillip Kim or Jonathan Horne of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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