NEW YORK, June 10, 2011 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. today announced a class action lawsuit on behalf of investors who purchased the securities of Wonder Auto Technology, Inc. (Nasdaq:WATG) during the period from May 14, 2008 to May 6, 2011, and is seeking to recover investors' damages from violations of federal securities laws.
To join the Wonder Auto class action, visit the Rosen Law Firm's website at , or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email [email protected] for information on the class action.
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 Wonder Auto and its officers and directors for issuing false and misleading information to investors about the financial and business condition of the Company. Namely, the Complaint alleges that: (1) the Company improperly recognized revenue because Wonder Auto's subsidiaries improperly recorded its sales and costs of sales; (2) the Company failed to properly disclose the related-party nature of certain transactions; (3) the Company lacked adequate internal and financial controls; and (4) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.
If you wish to serve as lead plaintiff, you must move the Court no later than August 1, 2011. 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 [email protected]. You may also visit the firm's website at .
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm P.A. 275 Madison Avenue, 34th Floor New York, New York 10016 Tel: (212) 686-1060 Weekends Tel: (917) 797-4425 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 [email protected] [email protected] www.rosenlegal.com
