The Rosen Law Firm, P.A. announces that it is investigating potential securities claims against SinoTech Energy Ltd. (NASDAQ: CTE) resulting from allegations that the company may have issued materially misleading financial statements and business information to the investing public.
On August 16, 2011, a report was issued by the Alfred Little website raising a number of potential red flags of fraud at SinoTech Energy. The report claims that (a) SinoTech Energy’s five largest subcontracting customers appear to be shell companies with unverifiable operations and minimal revenues; (b) SinoTech Energy’s sole chemical supplier appears to be an empty shell, with little or no revenues, a deserted office and no signs of production activity; and (c) SinoTech’s audited financial statements filed with Chinese authorities confirm the Company’s negligible business operations.
The Rosen Law Firm is preparing a securities class action lawsuit on behalf of SinoTech Energy shareholders to recover their investment losses. If you purchased SinoTech securities, please visit the website at http://rosenlegal.com to participate in the class action and to obtain more information. You may also contact Phillip Kim of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
275 Madison Avenue 34th Floor
New York, New York 10016
Weekends Tel: 917-797-4425
Toll Free: 1-866-767-3653