Kendall Law Group Begins Investigation for Fuqi International, Inc. Shareholders

DALLAS--(BUSINESS WIRE)--Kendall Law Group today announced that it is investigating Fuqi International, Inc. (NASDAQ:FUQI) for potential violations of state and federal securities laws. The affected stock was purchased between May 15, 2009 and March 16, 2010. Shareholders who purchased FUQI stock before or during above time period may have a claim against the company and are encouraged contact attorney Hamilton Lindley at 877-744-3728 or [e-mail] for more information.

The firm’s investigation was triggered by recent reports from Fuqi concerning accounting errors that caused an understatement of cost of sales and an overstatement of gross profit and net income for the first three quarters of 2009. Fuqi announced that its final fourth quarter and year end 2009 financial results would be delayed and that they will be filing an extension for the filing of its 10-K for 2009. Preliminary estimates by Fuqi indicate that the earnings per share for the nine-month period ended September 30, 2009 were overstated by $0.15 to $0.19. FUQI shares are trading approximately 35% lower today than they were prior to Fuqi’s announcement.

Kendall Law Group, led by a former federal judge and former U.S. Attorney, has the credentials to pursue any type of complex securities litigation in the nation. The national securities firm gives shareholders power when big businesses violate the law. Protect your rights as a FUQI shareholder by contacting Kendall Law Group.