NEW YORK, Dec. 1, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm today announced that it has filed a class action lawsuit on behalf of all persons who purchased SinoHub, Inc. stock (OTC Markets:SIHI) from May 17, 2010 through August 21, 2012. The action is pending in the U.S. District Court for the Southern District of New York.
To join the SinoHub class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action.
The Complaint asserts violations of the federal securities laws against SinoHub and certain of its officers and directors for issuing materially false financial information. In addition, SinoHub allegedly concealed that its internal controls over financial reporting were ineffective. SinoHub's auditors resigned citing potentially inaccurate financial data, as did several members of its board of directors. When this adverse information was disclosed, the value of SinoHub stock dropped, substantially damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than January 21, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at www.globenewswire.com/newsroom/ctr%3Fd=10013362%26l=5%26a=pkim%2540rosenlegal.com%26u=mailto%253Apkim%2540rosenlegal.com">pkim@rosenlegal.com. You may also visit the firm's website at http://rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.