A Deadline is coming up on July 25, 2012 in the lawsuit for investors in Tibet Pharmaceuticals, Inc. (NASDAQ:TBET) and NASDAQ:TBET stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/18/2012 -- A deadline is coming up on July 25, 2012in the lawsuit filed for investors of Tibet Pharmaceuticals, Inc. (NASDAQ:TBET) over alleged securities laws violations in connection with certain financial statements.
Investors with a substantial investment in Tibet Pharmaceuticals, Inc. (NASDAQ:TBET) shares between December 28, 2010 and April 2, 2012,, 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 of the Virgin Islands the plaintiff alleges on behalf of purchasers of Tibet Pharmaceuticals, Inc. (NASDAQ:TBET) between December 28, 2010 and April 2, 2012, that Tibet Pharmaceuticals, certain of its officers and directors, and underwriters violated Federal Securities Laws. Specifically, the plaintiff alleges that defendants issued between December 28, 2010 and April 2, 2012 allegedly inaccurate statements of material fact about Tibet Pharmaceuticals’ true financial and business condition, which ultimately caused its stock (NASDAQTBET) to be halted by the NASDAQ and delisted, causing investors to lose nearly their entire investment.
Shares of Tibet Pharmaceuticals, Inc. (NASDAQ:TBET) declined from $5.53 per share in January 2011 to as low as $0.72 per share in February 24, 2012.
NASDAQ:TBET shares closed on April 2, 2012 at $1.29 per share. The next day the NASDAQ stock market announced that it had halted trading in Tibet Pharmaceuticals, Inc stock for “additional information requested.”
The trading halt has rendered Tibet Pharmaceuticals stock illiquid.
Those who purchased shares of Tibet Pharmaceuticals, Inc. (NASDAQ:TBET) between December 28, 2010 and April 2, 2012, have certain options and there are strict and short deadlines running. Deadline: July 25, 2012. NASDAQ:TBET stockholders 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