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

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).


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On June 15, 2012, the Company disclosed that E&Y had withdrawn its audit reports for the Company's financial statements for the years ended 2009 and 2010, after E&Y concluded that it could no longer rely on management's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: 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  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 or  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 (  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.

369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn:  Richard Gonnello, Esq. 
Francis McConville, Esq. 
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:
(Date:6/24/2016)... , June 24, 2016 According ... by Type (Standard Pen Needles, Safety Pen Needles), Needle ... GLP-1, Growth Hormone), Mode of Purchase (Retail, Non-Retail) - ... This report studies the market for the forecast period ... reach USD 2.81 Billion by 2021 from USD 1.65 ...
(Date:6/23/2016)... 23, 2016  MedSource announced today that it ... software solution of choice.  This latest decision demonstrates ... to their clients by offering a state-of-the-art electronic ... establishes nowEDC as the EDC platform of choice ... clients.  "nowEDC has long been a preferred EDC ...
(Date:6/23/2016)... -- In a startling report released today, National Safety Council ... comprehensive, proven plan to eliminate prescription opioid overdoses. Prescription ... are tackling the worst drug crisis in recorded U.S. history, assigned ... Kentucky , New Mexico , ... 28 failing states, three – Michigan , ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... ... of Bruton Memorial Library on June 21 due to a possible lice infestation, as reported ... head lice: the parasite’s ability to live away from a human host, and to infest ... in the event that lice have simply gotten out of control. , As lice are ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... ... athletes and non-athletes recover from injury. Recently, he has implemented orthobiologic procedures as ... City area —Johnson is one of the first doctors to perform the treatment. ...
(Date:6/24/2016)... ... ... Those who have experienced traumatic events may suffer from a complex set of ... or alcohol abuse, as a coping mechanism. To avoid this pain and suffering, Serenity ... event. , Trauma sufferers tend to feel a range of emotions, from depression, guilt, ...
(Date:6/24/2016)... ... June 24, 2016 , ... Global law firm Greenberg ... Legal Elite. The attorneys chosen by their peers for this recognition are considered among ... Greenberg Traurig Shareholders received special honors as members of this year’s Legal Elite Hall ...
(Date:6/24/2016)... ... 24, 2016 , ... People across the U.S. are sharpening their pencils and ... essay contest in which patients and their families pay tribute to a genetic counselor ... National Society of Genetic Counselors (NSGC) Annual Education Conference (AEC) this September. , ...
Breaking Medicine News(10 mins):