BOSTON--(BUSINESS WIRE)--Berman DeValerio (www.bermandevalerio.com), one of the nation’s leading law firms representing investors who seek to recover money lost due to investment fraud, is investigating recent reports involving Lihua International, Inc. (NASDAQ: LIWA) (“Lihua” or the “Company”).
It has been reported that Lihua’s CEO and Chairman may have diverted or attempted to divert Company assets and, consequently, may have become the subject of action by Chinese law enforcement. On April 30, 2014, NASDAQ halted trading in Lihua shares after the Company’s stock lost over 50% of its value in recent trading. Lihua is a manufacturer of copper replacement products for Chinese markets.
Lihua’s Board of Directors has issued a press release acknowledging its awareness of the decline in the Company’s stock price and of the published allegations. The Board’s Audit Committee is said to be taking steps to determine the facts. Further, the Board has cautioned that, if the allegations prove true, Lihua’s financial statements may contain material misstatements.
If you are a Lihua shareholder and would like more information regarding this matter, or if you wish to share information about the matter, please contact Daryl DeValerio Andrews of Berman DeValerio.
Berman DeValerio is a national law firm representing investors in cases alleging violations of securities and antitrust laws. The firm has 35 lawyers in Boston, San Francisco and Palm Beach Gardens, Florida.
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