Law Offices of Howard G. Smith Announces Investigation of Yuhe International Inc.
24 Juin 2011 - 1:30AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against Yuhe International Inc.
(“Yuhe” or the “Company”) (NASDAQ:YUII) concerning possible
violations of federal securities laws. The investigation focuses on
allegations that certain statements issued by the Company,
regarding Yuhe’s business, operations and financial condition were
false and misleading.
Yuhe engages in the supply of day-old chickens raised for meat
production or broilers in the People's Republic of China.
Specifically, the investigation relates to comments made by the
Company’s management admitting that the acquisition of 13 chicken
breeding farms from Weifang Dajiang Group did not actually occur as
the Company had previously claimed. Moreover, the investigation
relates to the recent announcement by Yuhe’s independent auditor,
Child, Van Wagoner & Bradshaw, PLLC (“CVWB”), that it had
terminated its audit relationship with the Company on June 17,
2011, due to “management’s misrepresentation and failure to
disclose material facts surrounding certain acquisition
transactions and off-balance sheet related party transactions” and
that CVWB’s audit report for the year ended December 31, 2010
“should no longer be relied upon and must no longer be associated
with the financial statements.” Trading in the Company’s stock has
been halted since June 17, 2011.
If you purchased Yuhe securities, if you have information or
would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
Yuhe (CE) (USOTC:YUII)
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