A settlement was reached in the lawsuit filed on behalf of certain investors of Duoyuan Printing Inc (NYSE: DYP) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on May 26, 2015 and NYSE: DYP investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/07/2015 -- A deadline is coming up on May 26, 2015 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Duoyuan Printing Inc (NYSE: DYP) between November 6, 2009 and March 28, 2011.
Investors who purchased a significant amount of shares of Duoyuan Printing Inc (NYSE: DYP) between November 6, 2009 and March 28, 2011, have certain options and you should contact the Shareholders Foundation by email at email@example.com or call +1(858) 779 - 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Duoyuan Printing Inc (NYSE: DYP) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/duoyuan-printing-inc-nyse-dyp-investor-securities-class-action-lawsuit-09202010
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is May 26, 2015. The class action administrator for this case is Strategic Claims Services.
The lawsuit was originally filed in the U.S. District Court for the Southern District of New York against Duoyuan Printing Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between November 6, 2009 and September 13, 2010. The platiniff alleges that Duoyuan Printing Inc and certain of its top officials violated the Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder and Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 by issuing 6, 2009 through and including September 13, 2010 false and/or misleading statements. Duoyuan Printing Inc reported an revenue increase of 100% over the past four years. Duoyuan Printing Inc reported on June 30, 2006 for the past 12months total revenue of $43.75million and on June 30, 2009 $106.59million total revenue. Its Net Income went over the same time period from $12.90million to $32.60million. Duoyuan Printing Inc's Chairman, Wenhua Guo, is also Chief Executive Officer of Beijing-based Duoyuan Global Water Inc, a manufacturer of water treatment equipment.
Then on September 13, 2010, Duoyuan Printing Inc announced in connection with Duoyuan Printing Inc's "desire to resolve open issues and file our 10-K on a timely basis" the dismissal findings of its independent registered public accounting firm, Deloitte Touche Tohmatsu CPA Ltd. and several other management changes including the resignations of the Company's CEO, CFO and the head of the Company's Audit Committee. The Audit Committee has undertaken an independent investigation into Deloitte Touche Tohmatsu CPA Ltd.'s suggestion that certain expenses be investigation. Upon this news, Duoyaun Printing Inc's common stock declined by about 55%, or $3.60 per share, to close at $2.99 per share.
Those who purchased shares of Duoyuan Printing Inc (NYSE: DYP) have certain options and should contact the Shareholders Foundation.
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