An investigation on behalf of current long term investors in China Sky One Medical, Inc. (NASDAQ:CSKI) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:CSKI stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 03/27/2012 --Certain directors and officers of China Sky One Medical, Inc. are under the investigation for current long term investors in China Sky One Medical, Inc. (NASDAQ:CSKI) shares over possible breaches of fiduciary duties.

Investors who are current long term investors in China Sky One Medical, Inc. (NASDAQ:CSKI) shares, 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 for current long term investors in China Sky One Medical, Inc. (NASDAQ:CSKI) stocks follows a lawsuit filed earlier by shareholders who purchased NASDAQ:CSKI shares between April 16, 2009 and February 14, 2012. The plaintiff alleges that China Sky One Medical, Inc. violated Federal Securities Laws by issuing allegedly false and/or misleading statements and/or failing to disclose that China Sky One Medical improperly inflated earnings, China Sky One Medical's gross margins were inflated, China Sky One Medical lacked adequate internal and financial controls, and as a result of the foregoing, the China Sky One Medical's statements were materially false and misleading at all relevant times.
The investigation for current long term investors in China Sky One Medical, Inc. (NASDAQ:CSKI) stocks, including also those who purchased within or prior to the above stated time frame and currently hold NASDAQ:CSKI sahres, concerns whether certain China Sky One Medical officers and directors are liable in connection with the allegations made in that lawsuit.

In September 2009, the SEC issued a formal order of investigation relating to certain of China Sky One Medical’s accounting, record-keeping and disclosure practices.

On February 15, 2012 China Sky One Medical, Inc announced that its Chairman, President and Chief Executive Officer is being treated for a life-threatening illness. In addition China Sky One Medical, Inc said that 26 middle-management level employees have recently resigned, of which 9 were in the accounting department, 2 were in the internal controls department, 2 were in the IT department, 11 were in the sales department, and 2 were in the production center.

The same day the NASDAQ Stock Market announced that trading was halted today in China Sky One Medical, Inc. (Nasdaq: CSKI) at 10:22:17 a.m., Eastern Time, for "additional information requested" from the company at a last price of $1.10.

The NASDAQ Stock Market said that trading will remain halted until China Sky One Medical, Inc. has fully satisfied NASDAQ's request for additional information.

Those who are current long term investors in China Sky One Medical, Inc. (NASDAQ:CSKI) shares, have certain options and should contact the Shareholders Foundation.

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