|[April 08, 2014]
EQUITY ALERT: The Rosen Law Firm Announces Investigation of Securities Claims Against Kingold Jewelry, Inc. - KGJI
NEW YORK --(Business Wire)--
The Rosen Law Firm announces that it is investigating potential
securities claims against Kingold Jewelry, Inc. (NASDAQ:KGJI) resulting
from allegations that Kingold may have issued materially misleading
business information to the investing public.
On April 4, 2014, Seeking Alpha published an article asserting
that Kingold's accounting and management practices raise several red
flags. The article states, among others things, that Kingold's
management entered into a $52.4 million loan to a related party during
the fourth quarter of 2013 without proper notification or approval by
Kingold's Board of Directors. The articles also raises other issues such
as Kingold's rapid growth of inventoryand constant low level of cash,
as well as Kingold's questionable purchase of land rights in Wuhan,
China with the intent to develop an "Industrial Park." These adverse
facts caused the Company's stock to fall $0.21 per share, or
approximately 13%, on April 7, 2014 damaging investors.
The Rosen Law Firm is preparing a class action lawsuit as a result of
this adverse information. If you purchased Kingold stock prior to April
4, 2014, please visit the website at http://rosenlegal.com
to take action. You may also contact Phillip Kim, Esq. or Kevin Chan,
Esq., or of The Rosen Law Firm toll free at 866-767-3653 or via e-mail
at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and shareholder
Attorney Advertising. Prior results do not guarantee a similar outcome.
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