BOCA RATON, Fla., Dec. 18, 2008 (GLOBE NEWSWIRE) -- The law firm of Vianale & Vianale LLP announces that it filed a class action lawsuit on December 12, 2008 on behalf of purchasers of the common stock of China Organic Agriculture, Inc. (Pink Sheets:CNOA) during the period July 12, 2007 through August 14, 2008 (the "Class Period"). A copy of the complaint can be obtained by calling our offices or by e-mailing us at either of the e-mail addresses listed below. The action (Case No. 08-CV-10810) is pending in Manhattan federal court.
The complaint alleges that the Company made false and misleading statements during the Class Period about its organic rice business even though China Organic's business model was not likely to turn any profit. The defendants sold tens of millions of dollars worth of the Company's stock prior to announcing that the Company would sell its organic rice operation. Within eighteen months of taking the Company public, defendants sold the Company's only significant business operation, leaving shareholders with virtually worthless stock.
If you bought common stock from July 12, 2007 to August 14, 2008, no later than February 10, 2009, you may move the court to appoint you as lead plaintiff, a representative party that acts on behalf of other class members. The court must determine whether the class member's claim is typical of other members' claims, and whether the class member will adequately represent the class. Your ability to recover is not, however, affected by the decision whether or not to serve as a lead plaintiff. Vianale & Vianale LLP is active in major litigations pending in federal and state courts.
If you wish to discuss this action with us, or have any questions concerning our lawsuit, this notice, or your rights and interests with regard to this case, please contact:
Kenneth J. Vianale Ismael Aviles Vianale & Vianale LLP 2499 Glades Road, Suite 112 Boca Raton, FL 33431 888-657-9960 (Toll Free) (561-392-4750) Email: kvianale@vianalelaw.com Email: iaviles@vianalelaw.com