HEAT Smartheat Inc. (MM)

Gainey & McKenna announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York, on behalf of investors who purchased the shares of SmartHeat, Inc. (Nasdaq:HEAT) between February 24, 2010 and May 3, 2010, inclusive (the "Class Period").

The Complaint alleges that, throughout the Class Period, SmartHeat's Chief Executive Officer, James Jun Wang, sold $23 million of his shares in violation of several SEC rules. This rapid sale of SmartHeat's stock onto the market caused its stock price to plummet.

If you wish to serve as lead plaintiff, you must move the Court no later than October 30, 2012.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. of Gainey & McKenna at (212) 983-1300, or via e-mail at tjmckenna@gaineyandmckenna.com.

While Gainey & McKenna did not file the Complaint in this matter, the firm, with offices in New York and New Jersey, regularly prosecutes cases on behalf of shareholders in state and federal courts throughout the United States.

CONTACT: Gainey & McKenna
         (212) 983-1300