NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, P.A. today announced that it has filed a class action lawsuit on behalf of investors who purchased common stock of Orient Paper, Inc. (“Orient Paper”, “ONP”, or the “Company”) (AMEX: ONP) during the period between March 27, 2009 and July 22, 2010 (the “Class Period”).
This class action includes all purchasers of Orient Paper stock during the Class Period, including purchasers in the March 31, 2010 public offering from Roth Capital Partners LLC.
To join the Orient Paper class action, visit the firm’s website at http://www.rosenlegal.com, or call Laurence Rosen, Esq. or Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email firstname.lastname@example.org or email@example.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint alleges that Orient Paper and certain of its officers and directors misrepresented the Company’s financial performance, business prospects, and financial condition. The Complaint also names Roth Capital Partners as a defendant because it underwrote a public offering for the Company on March 31, 2010.
The Complaint asserts that the Company’s revenues were substantially overstated and that the Company exaggerated the extent of its business operations. On June 28, 2010, an entity calling itself Muddy Waters released a report containing facts indicating that ONP has issued false financial statements and press releases. The report was followed by a series of back-and-forth accusations between Muddy Waters and the Company. Finally, on July 16, 2010, Orient Paper announced that it would retain a law firm and a “Big Four” accounting firm to conduct an investigation into the troubling issues raised by Muddy Waters. As a result of these adverse disclosures, Orient Paper’s share price dropped substantially, damaging shareholders.
If you wish to serve as lead plaintiff, you must move the Court no later than October 5, 2010. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at firstname.lastname@example.org or email@example.com. The class action is pending in the U.S. District Court for the Central District of California.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.