The Rosen Law Firm Announces Investigation of Investor Securities Claims Against Keyuan Petrochemicals, Inc. – KEYP
02 Avril 2011 - 5:55AM
Business Wire
The Rosen Law Firm, P.A. announces that it is investigating
potential securities claims against Keyuan Petrochemicals, Inc.
(NASDAQ: KEYP) resulting from allegations that the Company may have
issued materially false financial statements and information to
investors.
Prior to market open on April 1, 2011 trading in the Company’s
stock was halted. Thereafter, the Company issued a press release
announcing that the Company would not be able to timely release its
financial results for the fiscal year ended December 31, 2010. The
announcement also revealed that “the accounting review conducted to
date had identified various concerns” that prompted the Company’s
audit committee to undertake an independent investigation.
Later in the day, the Company filed an 8-K with the SEC under
item 4.02 entitled “Non-Reliance on Previously Issued Financial
Statements.” According to the 8-K, the Company’s auditors informed
the Company “that there is a possibility that we may be required to
make certain adjustments to certain of our previously issued
financial statements, and that such previously issued financial
statements may not be relied upon.”
The Rosen Law Firm is preparing a securities class action
lawsuit on behalf of Keyuan investors to recover investment losses.
If you purchased or acquired Keyuan securities at any time prior to
April 1, 2011, please visit the website at http://rosenlegal.com
for more information. You may also contact Phillip Kim, Esq. or
Jonathan Horne, Esq. of The Rosen Law Firm toll free at
866-767-3653 or via e-mail at pkim@rosenlegal.com or
jhorne@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
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