The Colorado Law Firm of Dyer & Berens LLP Files Class Action on Behalf of AgFeed Industries, Inc. Investors; Encourages Large Investors to Inquire About the Upcoming Lead Plaintiff Deadline (FEED)
(firmenpresse) - DENVER, CO -- (Marketwire) -- 10/26/11 -- Dyer & Berens LLP () today announced that it has filed a class action lawsuit in the United States District Court for the District of Colorado on behalf of all persons who purchased or otherwise acquired the common stock of AgFeed Industries, Inc. (the "Company") (NASDAQ: FEED) between March 16, 2009 and August 2, 2011, inclusive (the "Class Period"). AgFeed is engaged in the animal nutrition and commercial hog producing businesses in China and maintains its principal executive offices in Colorado.
If you purchased or acquired shares during the Class Period and wish to serve as a lead plaintiff, you must request appointment by the court no later than . A "lead plaintiff" works with counsel to direct the litigation and participates in important decisions, including the amount of compensation to accept in settlement of the class action. The lead plaintiffs here will be selected from among applicants claiming the largest loss from their investment in the Company during the Class Period.
If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact plaintiffs' counsel, Jeffrey A. Berens, Esq., at (888) 300-3362 x302 or via email at .
The complaint contains allegations that, during the Class Period, defendants issued materially false and misleading statements regarding the Company's business. Specifically, the defendants misrepresented and concealed from the investing public that, among other things: (i) AgFeed's formula-based analysis for determining accounts receivable and calculating reserves for doubtful accounts did not take into consideration the individual repayment abilities of its customers; (ii) the Company's accounts receivable were materially overvalued and its allowances for doubtful accounts were significantly under-reserved; and (iii) the Company exaggerated its market edge as the combination of overstated assets and understated expenses resulted in an illusion of heightened profitability and Company value. Based upon the foregoing, the complaint charges the Company and certain of its officers with violations of the Securities Exchange Act of 1934.
The plaintiffs are represented by Dyer & Berens LLP. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. For more information about the firm, please visit .
Contact:
Jeffrey A. Berens
Dyer & Berens LLP
303 East 17th Avenue, Suite 300
Denver, CO 80203
Tel: (888) 300-3362 x302
Email:
Website:
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Datum: 26.10.2011 - 14:49 Uhr
Sprache: Deutsch
News-ID 80515
Anzahl Zeichen: 0
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DENVER, CO
Kategorie:
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