NEW YORK, July 20, 2022 /PRNewswire/ -- Sadis & Goldberg has been retained by stockholders of Meihua International Medical Technologies Co., Ltd. (NASDAQ: Ticker "MHUA") to investigate alleged accounting fraud by MHUA and/or its officers and directors. Our investigation focuses on MHUA's violation of NASDAQ Rules by failing to timely file its Annual Report containing its financial statements. Shortly thereafter, MHUA's independent Auditor resigned, as did the Chairman of MHUA's Audit Committee. As a result, MHUA's stock price has fallen from as high as $14.80 per share to $5.30.
Our investigation focuses on a violation of NASDAQ Rules by failing to timely file its Annual Report.
These developments raise major concern that MHUA's current and prior financial statements are false and misleading. Further, they raise serious concerns that MHUA, its officers and/or directors may have presented false and misleading financial information in the Prospectus for MHUA's Initial Public (IPO) in February 2022. Sadis & Goldberg is investigating potential direct and derivative claims that MHUA and its officers and directors breached their fiduciary duties, engaged in common law fraud, and/or violated securities laws through false accounting and financial statements.
If you are an investor in MHUA, and wish to obtain additional information to protect your investment or recover losses, please contact Samuel J. Lieberman of Sadis & Goldberg at (212) 573-8164 or by email at SLieberman@sglawyers.com.
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SOURCE Sadis & Goldberg LLP
