NEW YORK, June 8, 2011 (GLOBE NEWSWIRE) -- A Sino-Forest Corporation investor has retained Kirby McInerney LLP to investigate and possibly bring a class action lawsuit on behalf of all persons who acquired shares of Sino-Forest Corp. ("Sino-Forest" or the "Company").
The firm has been retained to investigate potential violations of the federal securities laws related to the Company's public statements. On June 2, 2011, analyst firm Muddy Waters Research ("Muddy Waters") published a report asserting that Sino-Forest greatly exaggerated its assets. For example, the report alleged that Sino-Forest overstated its forestry purchases in China's Yunnan province by more than C$800 million. Muddy Waters also claimed that the Company's "capital raising is a multi-billion dollar Ponzi scheme." On this news, shares of Sino-Forest stock lost nearly two-thirds of its value.
If you acquired Sino-Forest shares and wish to discuss this matter, please contact us, toll free, at (888) 529-4787 or by email at info.newcases@kmllp.com
Kirby McInerney LLP has specialized in complex litigation, including securities class actions, for several decades. The firm has repeatedly demonstrated its expertise in this field, and has been recognized by various courts which have appointed the firm to major positions in consolidated and multi-district litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling hundreds of millions of dollars, and the firm's achievements and quality of service have been chronicled in numerous published decisions. More information about the firm, class actions in general, or about the role of the lead plaintiffs in a securities class action can be obtained through Kirby McInerney LLP's website at http://www.kmllp.com.