NEW YORK, Aug. 31, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. today announced that it has filed a class action lawsuit on behalf of investors who purchased common stock of SmartHeat, Inc. (Nasdaq:HEAT) during the period from February 24, 2010 through May 3, 2010, inclusive.
To join the HEAT class action, visit the firm's website at http://www.rosenlegal.com, or call Jonathan Horne, Esq. or Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email jhorne@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 Heat's Chief Executive Officer, James Jun Wang, sold $23 million of his shares during the Class Period, in violation of several SEC rules. This rapid sale of HEAT's stock onto the market caused its stock price to plummet.
If you wish to serve as lead plaintiff, you must move the Court no later than Tuesday, October 30, 2012.
If you wish to join the Class Action, or discuss your rights and interests in Heat stock, please visit the firm's website at http://www.rosenlegal.com to join the class action. You may also contact Phillip Kim, Esq. or Jonathan Horne, Esq., of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or jhorne@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.