San Diego, CA -- (SBWIRE) -- 07/24/2012 -- Certain directors and officers of American Oriental Bioengineering, Inc. are under the investigation over possible breaches of fiduciary duties in connection with certain financial statements.

Investors who are current long term investors in American Oriental Bioengineering, Inc. (PINK:AOBI) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in American Oriental Bioengineering, Inc. (PINK:AOBI) stocks follows a lawsuit filed earlier by shareholders against American Oriental Bioengineering, Inc. over alleged Securities Laws Violations. The investigation on behalf of current long term investors in American Oriental Bioengineering, Inc. (PINK:AOBI) stocks concerns whether certain American Oriental Bioengineering officers and directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. the U.S. District Court for the Central District of California the plaintiff alleges that American Oriental Bioengineering, Inc. violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading financial statements and concealing the Company's material internal control weaknesses.

On June 15, 2012, American Oriental Bioengineering, Inc. announced that it dismissed Ernst & Young Hua Ming, as its independent registered public accounting firm.

American Oriental Bioengineering said that on June 15, 2012, it received a letter from Ernst & Young Hua Ming in which it withdrew its reports on the financial statements and related internal control over financial reporting for the years ended and as of December 31, 2009 and 2010 and accordingly, its reports issued thereto on March 15, 2010 and 2011 can no longer be relied upon. American Oriental Bioengineering said the inconsistencies Ernst & Young Hua Ming identified, which were not resolved at the time of its dismissal,

Shares of American Oriental Bioengineering, Inc. (PINK:AOBI) closed on June 22, 2012, at $0.36 per share.

Those who are current long term investors in American Oriental Bioengineering, Inc. (PINK:AOBI) shares, have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com