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Investor Alert: Shareholder Class Action Filed Against Longwei Petroleum Investments Holding LTD; Shareholders With Large Losses Encouraged to Contact Holzer Holzer & Fistel, LLC Regarding March 5, 2013 Lead Plaintiff Deadline
By: Marketwired .
Jan. 31, 2013 10:09 AM
ATLANTA, GA -- (Marketwire) -- 01/31/13 -- A class action lawsuit has been filed on behalf of investors who purchased Longwei Petroleum Investment Holding LTD ("Longwei" or the "Company") (NYSE MKT: LPH) securities between May 17, 2010 and January 3, 2013. The lawsuit, which was filed in the United States District Court for the Southern District of California, alleges Longwei violated the federal securities laws by making false and misleading statements regarding its operations and financial performance. Specifically, the complaint alleges Longwei failed to disclose certain material related party transactions and, according to the complaint, overstated its wholesale fuel sales.
If you purchased Longwei common stock between May 17, 2010 and January 3, 2013 and suffered a net loss on those purchases you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than March 5, 2013. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Investors who are interested in serving as lead plaintiff or who have questions concerning their legal rights may contact Michael I. Fistel, Jr., Esq. (firstname.lastname@example.org) or Marshall P. Dees, Esq. (email@example.com) by email or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.
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