San Diego, CA -- (SBWIRE) -- 06/25/2012 -- An investor in American Oriental Bioengineering, Inc. (PINK:AOBI) shares filed a lawsuit in the U.S. District Court for the Central District of California against American Oriental Bioengineering, Inc. over alleged Violations of Federal Securities Laws in connection with certain financial statements was announced.

Investors who purchased shares of American Oriental Bioengineering, Inc. (PINK:AOBI) between November 9, 2009 and June 15, 2012, have certain options and there are strict and short deadlines running. Deadline: August 22, 2012. AOBI investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on on behalf of investors who purchased the common stock of American Oriental Bioengineering, Inc. (PINK:AOBI) between November 9, 2009 and June 15, 2012, that American Oriental Bioengineering, Inc. and certain of its present and former officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading financial statements and concealing the Company's material internal control weaknesses.

American Oriental Bioengineering, Inc. reported that its annual Revenue rose from $160.48million in 2007 to $305.94million in 2010. However, its Net Income fell from $43.87million in 2007, respectively $47.06million in ’08 to $16.34million in 2010.

On June 15, 2012, American Oriental Bioengineering, Inc. announced that it dismissed Ernst & Young Hua Ming , as its independent registered public accounting firm.

American Oriental Bioengineering said that on June 15, 2012, it received a letter from Ernst & Young Hua Ming in which it withdrew its reports on the financial statements and related internal control over financial reporting for the years ended and as of December 31, 2009 and 2010 and accordingly, its reports issued thereto on March 15, 2010 and 2011 can no longer be relied upon. American Oriental Bioengineering said the inconsistencies Ernst & Young Hua Ming identified, which were not resolved at the time of its dismissal,

Shares of American Oriental Bioengineering, Inc. (PINK:AOBI) closed on June 22, 2012, at $0.36 per share.

Those who purchased shares of American Oriental Bioengineering, Inc. (PINK:AOBI) between November 9, 2009 and June 15, 2012, have certain options and there are strict and short deadlines running. Deadline: August 22, 2012. AOBI investors should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com