LOS ANGELES -- (Business Wire)
The Law Offices of Todd M. Garber announces that shareholders of Longwei
Petroleum Investment Holding Limited (“Longwei” or the “Company”) (NYSE
MKT:LPH) have until March 5, 2013 to move for lead plaintiff status in
the shareholder lawsuit filed in the United States District Court for
the Southern District of New York. The lawsuit was filed on behalf of a
class (the “Class”) comprising all purchasers of Longwei common stock
between May 17, 2010 and January 3, 2013, inclusive (the “Class Period”).
Longwei is a China-based energy company engaged in transporting, storing
and selling finished petroleum products in the People’s Republic of
China. The Complaint alleges that throughout the Class Period defendants
issued materially false and misleading statements regarding the
Company’s operations and financial performance. Specifically, defendants
misrepresented and/or failed to disclose that: (a) the Company
exaggerated its November 2012 sales figures for its fuel depot storage
facilities in Taiyuan, Shanxi Province, and in Gujiao; (b) defendants
failed to disclose a $32 million investment in a tourism business made
by Longwei Petroleum’s subsidiary, Shanxi Zhonghe Energy Conversion Co.,
Ltd.; and (c) as a result of the foregoing, the Company’s statements
concerning its operations and financial performance were materially
false and misleading at all relevant times.
If you are a member of the above-described Class, you may move the Court
no later than March 5, 2013 to serve as lead plaintiff; however, you
must 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 Class member. If you wish
to discuss this action or have any questions concerning this Notice or
your rights or interests with respect to these matters, please contact
Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by
telephone at 213-700-7262 or by email to firstname.lastname@example.org.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Source: Law Offices of Todd M. Garber
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