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On June 15, 2012, the Company disclosed that E&Y had withdrawn its audit reports for the Company's financial statements for the years ended 2009 and 2010, after E&Y concluded that it could no longer rely on management's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:4/28/2016)... Mich. , April 28, 2016   ... . Diplomat Pharmacy, Inc. (NYSE: DPLO), the nation,s ... has signed a definitive agreement to acquire Valley ... Specialty Pharmacy ("TNH"), a leading specialty pharmacy that ... Van Nuys, California . In 2015, TNH ...
(Date:4/28/2016)... 2016 Dr. ... und Stephen Schmidt werden ... ArisGlobal®, ein führender Anbieter cloudbasierter Softwarelösungen für ... dass neue Führungskräfte zum Team Sicherheit und ... vielfältige Erfahrungen mitbringen.  Dies wird die Geschäftseinheit ...
(Date:4/28/2016)... -- Dr. Vivek Ahuja , ... Ste phen Schmidt Join ... cloud-based software solutions for life sciences, today announced key new leaders ... of insight to a growing business.  This will bolster the company,s ... Phillips joined ArisGlobal in the position of Vice President - ...
Breaking Medicine Technology:
(Date:4/29/2016)... ... 2016 , ... For those who skip meals occasionally (which is pretty much ... the many new lifestyle diet tips offered by nutritionists Pam Bonney and Priya Lawrence ... radio show. Bonny and Lawrence noted that because proper nutrition, including water, provides energy ...
(Date:4/29/2016)... (PRWEB) , ... April 29, 2016 , ... ... feature Grassland Dairy Products, Inc. in an upcoming episode, airing third quarter 2016 ... century of churning cream into butter, Grassland Dairy Products, located in Greenwood, Wisconsin ...
(Date:4/29/2016)... PLAINSBORO, N.J. (PRWEB) , ... April 29, 2016 ... ... consumer digital and print media enterprise focused entirely on patients with cancer, today ... Mirage, California, was chosen as the 2016 CURE® Extraordinary Healer® for Oncology ...
(Date:4/29/2016)... ... April 29, 2016 , ... Nike Softball Camp at the College ... 24th – 27th for girls aged 10-18. All facets of the game will be ... Clark V. Whited Complex, one of the finest softball facilities in the region. The ...
(Date:4/29/2016)... MO (PRWEB) , ... April 29, 2016 , ... International ... Technology Seminar on May 3 and 4 at the Doubletree by Hilton Hotel in ... is dedicated to marketing and applications technologies for protein ingredients. , At the seminar, ...
Breaking Medicine News(10 mins):