NEW YORK, June 18, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. reminds purchasers of Lihua International, Inc. (Nasdaq:LIWA) common stock during the period from August 9, 2012 through April 30, 2014, of the important June 30, 2014, lead plaintiff deadline.
To join the Lihua class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action. The lawsuit filed by the firm is pending in the U.S. District Court for the Central District of California.
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 lawsuit asserts violations of the federal securities laws against Lihua and certain of its officers and directors for issuing false and misleading statements about the Company's business and financial condition. The Complaint alleges that: (1) Lihua's business experienced a significant downturn starting from late 2012; (2) Lihua's production activities slowed down dramatically in 2013, and have almost ceased after January 31, 2014; (3) Lihua's warehouse has been seized by the local PRC court; (4) Defendant Jianhua Zhu, Lihua's Chairman and CEO, attempted to move inventory in order to hide it from creditors, and is now being investigated by the police for larceny.
If you wish to serve as lead plaintiff, you must move the Court no later than June 30, 2014. 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. or Kevin Chan, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@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.