NEW YORK, Dec. 1, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm announces that a class action lawsuit has been filed on behalf of purchasers of China Gerui Advanced Materials Group Ltd. securities (Nasdaq:CHOP) during the period from January 11, 2012 through September 4, 2014. The class action seeks to recover investors' losses under the federal securities laws.
To join the China Gerui class action, go to the website http://www.rosenlegal.com/cases-450.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
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 ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, China Gerui issued materially false and misleading financial information to investors. On September 4, 2014, China Gerui disclosed that prior to June 30, 2014 it had spent $234 million to acquire an antique porcelain collection, which it valued at approximately $905 million. However, in the years and months leading up to this announcement, China Gerui consistently described its growth strategy to involve an expansion and diversification of its product lines, identification of overseas markets, and business combinations with competitors. On this news, China Gerui's share price fell $0.12 per share or approximately 20% to close at $0.49 per share on September 4, 2014, damaging investors.
If you wish to join the class action go to http://www.rosenlegal.com/cases-450.html 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.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
CONTACT: Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
kchan@rosenlegal.com
www.rosenlegal.com
