LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP is investigating potential claims against the Board of Directors of Guanwei Recycling Corp. (“Guanwei” or the “Company”) (NASDAQ:GPRC) related to fraud charges brought against stock promoter S. Paul Kelley (“Kelley”) and certain of his associates by the Securities and Exchange Commission (“SEC”).
This investigation concerns whether the Board of Directors of Guanwei breached their fiduciary duties to stockholders by allowing Kelley to acquire control of the Company so that it could be used as a shell company to conceal assets held by Kelley and his associates. The SEC alleges that Kelly manipulated the Company’s share price and sold several million dollars worth of stock at artificially inflated prices.
If you are a shareholder of GPRC, if you have information or would like to learn more about our investigation, 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 Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to firstname.lastname@example.org. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.