Investor Notice: Rosen Law Firm Reminds China North East Petroleum Holdings Limited Investors of Important August 10, 2010 Lead Plaintiff Deadline -- NEP


NEW YORK, July 3, 2010 (GLOBE NEWSWIRE) -- The Rosen Law Firm reminds investors of the August 10, 2010 lead plaintiff deadline in the class action filed on behalf of purchasers of the securities of China North East Petroleum Holdings Limited (AMEX:NEP) ("China North" or the "Company"), including purchasers of common stock, call options, and/or sellers of put options between August 14, 2009 and May 26, 2010, inclusive (the "Class Period").

To join the China North class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or you may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER

The complaint charges that China North and certain of its present and former officers and directors with violations of the federal securities laws through the issuance of false and misleading financial information to investors. According to the complaint, on May 27, 2010, China North filed an 8-K with the SEC providing further information concerning the Company's internal review of its prior financial statements. In this announcement, the Company revealed that it had discovered certain cash transfers in 2009 between bank accounts of the Company and its subsidiaries and the personal accounts of a certain Company officer and a Company director. The announcement also revealed that the Company's CFO and a director had resigned. China North also announced that its CEO was placed on administrative leave and that he stepped down as Chairman of the Board, both pending the outcome of the Company's forensic audit. As a result of these adverse events, the complaint asserts that China North's stock has been halted and that investors were damaged.

A class action lawsuit has already been filed on behalf of China North shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than August 10, 2010. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.  

The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe concentrating its practice in securities class actions. 

Attorney advertising. Prior results do not guarantee a similar outcome.



            

Contact Data