LOS ANGELES- Class Actioni Law Newswire
-The Law Offices of Todd M. Garber announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of a class (the “Class”) comprising all purchasers of the securities of American Oriental Bioengineering, Inc. (“AOBI” or the “Company”) (OTC: AOBI) between November 9, 2009 and June 15, 2012, inclusive (the “Class Period”).
AOBI engages in the development, manufacture and commercialization of pharmaceutical and healthcare products including prescription pharmaceutical products, over-the-counter pharmaceutical products and nutraceutical products. The Complaint alleges that the Company and certain of its executive officers and directors made false and misleading statements and/or failed to disclose material adverse facts about AOBI’s operations and financial performance. Specifically, during the Class Period the defendants misrepresented and/or failed 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.
If you are a member of the above-described Class, you may move the Court no later than August 22, 2012 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time, or you may retain counsel of your choice. If you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to [email protected]
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California