San Diego, CA -- (SBWire) -- 07/18/2012 --A deadline is coming up on July 25, 2012 in the lawsuit filed for investors of China-Biotics Inc. (PINK:CHBT) over alleged securities laws violations by China- Biotics Inc.
Investors with a substantial investment in China-Biotics Inc. (PINK:CHBT) shares between February 9, 2011 and July 1, 2011, should get active before the Deadline that is coming up on July 25, 2012, and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff that between February 9, 2011 and July 1, 2011, Defendants allegedly knew, or recklessly disregarded, that China-Biotics, Inc fabricated a false sales contract, a false bank website; and a false bank advice in furtherance of its scheme to fraudulently create the appearance of having achieved a 50% growth in 2011 revenue.
The plaintiff says that as a result of the dissemination of the materially allegedly false and misleading information and failure to disclose material facts, the market price of China-Biotics common stock was artificially inflated between February 9, 2011 and July 1, 2011.
Shares of China-Biotics Inc. (PINK:CHBT) traded in August 2011 at $3.51 but lost significantly value and traded in September 2011 as low as $0.48 per share.
Recently China-Biotics Inc. (PINK:CHBT) closed at $1.51 per share.
Those who purchased China-Biotics Inc. (PINK:CHBT) between February 9, 2011 and July 1, 2011, you have certain options and there are short and strict deadlines running. Deadline: July 25, 2012. China-Biotics Inc. (PINK:CHBT) investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
China-Biotics Inc. (PINK:CHBT) Investor Lawsuit Deadline on July 25
A Deadline is coming up on July 25, 2012 in the lawsuit for investors in China-Biotics Inc. (PINK:CHBT) and PINK:CHBT stockholders should contact the Shareholders Foundation.