San Diego, CA -- (SBWire) -- 07/01/2013 --An investigation on behalf of current long-term stockholders of shares of Uroplasty, Inc. (NASDAQ:UPI) was announced concerning whether certain Uroplasty officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholder of shares of Uroplasty, Inc. (NASDAQ:UPI) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Uroplasty officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by, among other things, failing to implement adequate internal controls.
Uroplasty, Inc. reported that its Total Revenue rose from over $11.86 million for the 12 months period that ended on March 31, 2010 to $22.42 million for the 12 months period that ended on March 31, 2013, and that its respective Net Loss increased from $3.20 million to $3.31 million. Shares of Uroplasty, Inc. (NASDAQ:UPI) declined from as high as $8.85 per share in July 2011 to as low as $2.07 per share in May 2013.
Then on June 14, 2013, Uroplasty, Inc. (NASDAQ: UPI) announced that it will delay the filing of its Annual Report on Form 10-K for the year ended March 31, 2013, until the completion of a review of its internal control over financial reporting.
On June 28, 2013, NASDAQ:UPI shares closed at $2.07 per share.
Those who purchased shares of Uroplasty, Inc. have certain options and 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
Uroplasty, Inc. (NASDAQ:UPI) Investor Alert: Investigation over Potential Wrongdoing
An investigation for current long-term investors in shares of Uroplasty, Inc. (NASDAQ:UPI) over potential wrongdoing by certain officers and directors was announced and NASDAQ:UPI stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com