BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims against Longwei Petroleum Investment Holdings Limited (“Longwei” or the “Company”) (NYSE MKT: LPH) concerning possible violations of federal securities laws. Longwei is a China-based energy company, situated in Shanxi Province and engaged in the wholesale distribution of finished petroleum products in the People’s Republic of China (the “PRC”). The Company’s oil and gas operations consist of transporting, storing and selling finished petroleum products, entirely in the PRC.
The investigation focuses on allegations that certain statements issued by Longwei between May 17, 2010 and January 3, 2013 were false and misleading concerning the Company’s business, operations and financial performance. Specifically, on January 3, 2013 a report published on the Internet by GEOInvesting.com alleged that Longwei exaggerated the November 2012 sales figures for the Company’s fuel depot storage facility in Taiyuan, Shanxi, and for a second facility in Gujiao. The report alleges that the Company also failed to disclose a $32 million investment in a tourism business made by its subsidiary, Shanxi Zhonghe Energy Conversion Co., Ltd.
If you purchased Longwei securities between May 17, 2010 and January 3, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.