|[May 08, 2014]
INVESTOR ALERT: Class Action Lawsuit Against Lihua International, Inc. Filed by Glancy Binkow & Goldberg LLP
LOS ANGELES --(Business Wire)--
Binkow & Goldberg LLP, representing investors of Lihua
International, Inc. ("Lihua" or the "Company") (NASDAQ:LIWA), has
filed a class action lawsuit in the United States District Court for the
Central District of California on behalf of a class (the "Class")
comprising all purchasers of Lihua common stock between August 9, 2012
and April 30, 2014, inclusive (the "Class Period").
Please contact Glancy Binkow & Goldberg LLP, toll-free at 888-773-9224
or at 212-682-5340, or by email to firstname.lastname@example.org
to discuss this matter.
Lihua is based in the People's Republic of China and develops,
manufactures, markets and distributes refined copper replacement
products, including copper rod, fine and superfine pure copper wire, and
copper-clad aluminum fine and superfine wires. The Complaint alleges
hat throughout the Class Period defendants issued false and misleading
statements or failed to disclose material adverse facts concerning
Lihua's operations and financial performance.
On April 30, 2014, the investor website GeoInvesting publicized a
report published in People's Daily, the official newspaper of the
Communist Party of China, alleging that: (1) Lihua's business took a
drastic downward turn from the end of 2012; (2) the Company's cash flow
is broken, and its warehouse has been seized and sealed by the local
court; (3) Lihua's production activities substantially decreased in
2013, and have nearly ceased since January 2014; and (4) the Company's
chief executive officer attempted to move Lihua's inventory in order to
hide assets from creditors, and as a result he is being investigated by
the local police.
If you are a member of the Class described above, you may move the Court
no later than June 30, 2014, to serve as lead plaintiff, if you meet
certain legal requirements. To be a member of the Class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish to
learn more about this action, or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at
888-773-9224, or contact Gregory
Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd
Street, Suite 2920, New York, New York 10168, at 212-682-5340, by e-mail
or visit our website at http://www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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