The Rosen Law Firm, P.A. today announced that it has filed a class action lawsuit on behalf of investors who purchased the securities of Tibet Pharmaceuticals, Inc. (“Tibet Pharma”) (OTC: TBET) anytime after December 28, 2010 (the “Class Period”), seeking to recover damages for violations of the federal securities laws.
To join the Tibet Pharma class action, visit the firm’s website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action. 如果您講中文，請致電張律師212-686-1060，或電郵 szhang@rosenlegal.com, 獲取該集體訴訟案件的具體信息. The case filed by the Rosen Law Firm is pending in the District Court for U.S. Virgin Islands.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint asserts violations of the federal securities laws against Tibet Pharma, its officers and directors, and underwriters for issuing inaccurate statements of material fact about the Company’s true financial and business condition, which ultimately caused the Tibet Pharma’s stock to be halted by the NASDAQ and delisted, causing investors to lose nearly their entire investment. The Complaint alleges defendants misrepresented and failed to disclose material internal control deficiencies, which rendered the Company’s registration statement and prospectus to be materially false and misleading.
If you wish to serve as lead plaintiff, you must move the Court no later than July 25, 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 Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com. You may also visit the firm’s website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
