NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Nova Lifestyle, Inc. (NASDAQ:NVFY) resulting from allegations that Nova Lifestyle may have issued materially misleading business information to the investing public.
On December 21, 2018, Andri Capital published an article reporting evidence of fictitious sales at Nova Lifestyle. Based on Andri Capital’s research, Nova Lifestyle “booked sales of over $50 million in recent years to two companies that either have been dissolved or do not exist[.]” The report also states that “other supposedly large customers of [Nova Lifestyle] do not seem to recognize doing business with Nova LifeStyle (possibly for over $60 million since 2011).” On this news, Nova Lifestyle’s stock has fallen sharply during intraday trading on December 21, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Nova Lifestyle investors. If you purchased shares of Nova Lifestyle please visit the firm’s website at https://www.rosenlegal.com/cases-1475.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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