Navigation Links
Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses Investing In American Oriental Bioengineering Inc. To Contact The Firm Regarding The August 22, 2012 Lead Plaintiff Deadline
Date:8/10/2012

NEW YORK, Aug. 10, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at American Oriental Bioengineering Inc. ("AOBI" or the "Company") (OTC Markets: AOBI).

(Logo:  http://photos.prnewswire.com/prnh/20120119/MM38856LOGO)

The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that:  (1) certain of the Company's capsule products maintained chrome levels far exceeding humanly tolerable limits; (2) the Company's financial statements contained material inconsistencies; (3) the Company's internal controls over financial reporting were deficient; and (4), as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.

On March 16, 2012, the Company's independent registered public accounting firm, Ernst & Young Hua Ming ("E&Y"), informed AOBI's Audit Committee of inconsistencies in the Company's financial statements for fiscal year 2011.  Approximately one month later, on April 19, 2012, the Company disclosed "onsite short notice inspections" conducted by the Chinese State Food and Drug Administration at four of AOBI's five manufacturing subsidiaries after capsule products were discovered with chrome levels far exceeding humanly tolerable limits. Then, after being delisted by the New York Stock Exchange on May 25, 2012, the Company's common stock plummeted nearly 62% when it resumed trading over-the-counter on May 29, 2012.

On June 15, 2012, the Company disclosed that E&Y had withdrawn its audit reports for the Company's financial statements for the years ended 2009 and 2010, after E&Y concluded that it could no longer rely on management's representations in connection with its audits of the financial statements for those years.

Request more information now by clicking here:  www.faruqilaw.com/AOBI. There is no cost or obligation to you.

Take Action
If you purchased AOBI securities between November 9, 2009 and June 15, 2012 and would like to discuss your legal rights, visit www.faruqilaw.com/AOBI.  You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or fmcconville@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding AOBI's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising.  The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).  Prior results do not guarantee or predict a similar outcome with respect to any future matter.  We welcome the opportunity to discuss your particular case.  All communications will be treated in a confidential manner.

FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn:  Richard Gonnello, Esq.
rgonnello@faruqilaw.com 
Francis McConville, Esq.
fmcconville@faruqilaw.com 
Telephone: (877) 247-4292 or (212) 983-9330


'/>"/>
SOURCE Faruqi & Faruqi, LLP
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Faruqi & Faruqi, LLP is Investigating Pain Therapeutics Inc. on Behalf of its Shareholders (PTIE)
2. Faruqi & Faruqi, LLP Notifies Investors of June 4, 2012 Lead Plaintiff Deadline for the Class Action Filed Against Chelsea Therapeutics International
3. Faruqi & Faruqi, LLP Announces Investigation of ViroPharma Incorporated
4. Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses Investing in Chelsea Therapeutics International, Ltd. to Contact the Firm
5. The Future of R&D Outsourcing
6. Epigenetics R&D Pipeline - Histone Deacetylases (HDACs) Offer the Most Promising Targets and Outnumber Other Classes of Epigenetic Targets
7. Searcy Denney Scarola Barnhart & Shipley PA Seeks Damages Caused by Recalled Product
8. Increasing Minimal Invasive Surgeries to Boost Adoption of Hybrid Operating Rooms in Europe, Says Frost & Sullivan
9. Positron Consolidates Radiopharmaceutical & Radioisotope Facilities
10. Japanese Market for Orthopedic Soft Tissue Repair & Sports Medicine
11. Johnson & Johnson Announces Discontinuation of Phase 3 Development of Bapineuzumab Intravenous (IV) in Mild-to-Moderate Alzheimers Disease
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... , June 24, 2016 ... appointment of Dr. Edward Futcher to ... Director, effective June 23, 2016.Dr. Futcher was also ... and Governance Committees.  As a non-executive member of ... expertise and strategic counsel to VolitionRx in connection ...
(Date:6/23/2016)... June 23, 2016 Research and ... Excipients Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), ... Topical, Coating, Parenteral) - Global Forecast to 2021" ... The global pharmaceutical excipients market is projected ... CAGR of 6.1% in the forecast period 2016 to ...
(Date:6/23/2016)... 23, 2016 Research and Markets has ... 52" report to their offering. ... creates a favourable commercial environment for MedImmune to enter. The ... that will serve to drive considerable growth for effective anti-influenza ... to cap sales considerably, but development is still in its ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... June 27, 2016 , ... "FCPX editors can now reveal their media with ... X," said Christina Austin - CEO of Pixel Film Studios. , ProSlice Color ... users can now reveal the media of their split screens with growing colorful ...
(Date:6/27/2016)... ... June 27, 2016 , ... ... patient payment industry today announced its strategic partnership with Connance, a healthcare ... , The two companies’ proven, proprietary technology combine to provide health systems, ...
(Date:6/27/2016)... Park, KS (PRWEB) , ... June 27, 2016 , ... ... in retailers of Eyeglasses . , Millions of individuals in the United States ... eyeglasses have become a way to both correct vision and make a fashion statement. ...
(Date:6/26/2016)... Battle Creek, Michigan (PRWEB) , ... June 26, 2016 , ... ... abuse, joined as sponsor of the 2016 Cereal Festival and World’s Longest Breakfast Table ... held in honor of the city’s history as home to some of the world’s ...
(Date:6/26/2016)... ... ... PawPaws brand pet supplements owned by Whole Health Supply is ... of felines. The formula is all-natural and is made from Chinese herbs that have ... Kidney Support Supplement Soft Chews are Astragalus Root Extract and Rehmannia Root Extract ...
Breaking Medicine News(10 mins):