Longwei Petroleum Investment Hold Ltd (NYSEAMEX:LPH) Investor Notice: Lawsuit alleges Misleading Statements

Printer-friendly versionPDF version

A lawsuit was filed for certain investors in shares of Longwei Petroleum Investment Hold Ltd (NYSEAMEX:LPH) over alleged securities laws violations. Deadline: March 5, 2013. NYSEAMEX:LPH stockholders should contact the Shareholders Foundation

San Diego, CA, United States., February 5, 2013 - (PressReleasePoint) - An investor in shares of Longwei Petroleum Investment Hold Ltd (NYSEAMEX:LPH) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Longwei Petroleum Investment Hold Ltd in connection with certain allegedly false and misleading statements.
 
Investors who purchased shares of Longwei Petroleum Investment Hold Ltd (NYSEAMEX:LPH) between May 17, 2010 and January 3, 2013, have certain options and there are short and strict deadlines running. Deadline: March 5, 2013.  NYSEAMEX:LPH stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554
 
According to the complaint the plaintiff alleges on behalf of all purchasers of common stock of Longwei Petroleum Investment Hold Ltd (NYSEAMEX) between May 17, 2010 and January 3, 2013,that Longwei Petroleum Investment Hold Ltd and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between May 17, 2010 and January 3, 2013 materially false and misleading financial information.
 
Longwei Petroleum Investment Hold Ltd (NYSEAMEX:LPH) reported that its  Total Revenue rose from $196.81 million for the 12 months period that ended on June 30, 2009 to $510.59 million for the 12 months period that ended on June 30, 2012 and its Net Income for the respective time periods increased from $21.78 million to $65.11 million.
 
Shares of Longwei Petroleum Investment Hold Ltd (NYSEAMEX:LPH) grew from as low as $0.88 per share in September 2011 to as high as $2.78 per share in December 3, 2012.
 
Then on January 3, 2013, an investment analyst published a report alleging adverse facts and other red-flags of potential fraud.
 
Shares of Longwei Petroleum Investment Hold Ltd (NYSEAMEX:LPH) dropped from $2.30 on Jan. 2, 2013 to $0.48 on Jan.3, 2012.
 
Those who purchased shares of Longwei Petroleum Investment Hold Ltd (NYSEAMEX:LPH) between May 17, 2010 and January 3, 2013, have certain options and there are short and strict deadlines running. Deadline: March 5, 2013.  NYSEAMEX:LPH stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554