Puda Coal Inc PUDA

Puda Coal, Inc. (Puda) is a supplier of high-grade metallurgical coking coal to the industrial sector in the People’s Republic of China (the PRC or China). Its processed coking coal is primarily purchased by coke and steel producers for the purpose of making the coke required for the steel manufacturing process. Puda’s operations are conducted by Shanxi Puda Coal Group Co., Ltd (Shanxi Coal), which it controls through 90% indirect equity ownership. Puda cleans raw coking coal sourced from third-party coal mines primarily located in Liulin County, Shanxi Province, and markets the cleaned, coking coal to coke and steel makers. Its primary geographic markets include Shanxi Province, Inner Mongolia Autonomous Region, Hebei Province, Beijing and Tianjin, China. It purchases raw coal from a diversified pool of local coal mines in Shanxi Province.

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Puda Coal Inc

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Post by coldheaton Feb 18, 2015 11:48am

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Post# 23439613

What's next?

My take is that the Class action will continue to pursue the underwriters. I think the SEC will do what the SEC does in these cases, and likely have a administrative law judge start the revocation procedure. Zhao and Zhu will receive fines and heavy sanctions... Just my take....but it seems to be the norm for this sort of mess.

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