San Diego, CA -- (SBWIRE) -- 11/18/2014 -- An investigation on behalf of investors of Pingtan Marine Enterprise Ltd (NASDAQ:PME) shares over potential securities laws violations by Pingtan Marine Enterprise and certain of its directors and officers in connection certain financial statements was announced.

If you purchased shares of Pingtan Marine Enterprise Ltd (NASDAQ:PME), you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Pingtan Marine Enterprise Ltd (NASDAQ:PME) concerning whether a series of statements by Pingtan Marine Enterprise regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Pingtan Marine Enterprise Ltd reported that its annual Total Revenue rose from $67.46 million in 2012 to $122.67 million in 2013 while its respective Net Income declined from $105.79 million to $97.40 million.

Shares of Pingtan Marine Enterprise Ltd (NASDAQ:PME) grew from $1.48 per share in August 2013 to as high as $4.03 per share in March 2014.

Since then NASDAQ:PME shares lost substantial value.

On November 6, 2014, Pingtan Marine Enterprise Ltd (NASDAQ:PME) announced that the Company will restate its previously issued annual financial statements for the years ended December 31, 2013 and 2012, and for the periods ended March 31, 2014 and 2013, and June 2014 and 2013 primarily to reflect 20 fishing vessels leased from a related party pursuant to an operating lease rights agreement at historical cost in property, plant and equipment, clarify certain disclosures, and record other miscellaneous adjustments such as the reclassification of certain balance sheet items and adjustments to depreciation and amortization expense. Pingtan Marine Enterprise Ltd said that the restatement had the effect of reducing total assets by $188 million and stockholder's equity by $187 million at December 31, 2013.

Shares of Pingtan Marine Enterprise Ltd (NASDAQ:PME) declined to as low as $1.11 per share on November 7, 2014.

On November 14, 2014, NASDAQ:PME shares closed at $1.33 per share.

Those who purchased shares of Pingtan Marine Enterprise Ltd (NASDAQ:PME) have certain options and should contact the Shareholders Foundation.

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