San Diego, CA -- (SBWIRE) -- 04/10/2012 -- An investigation on behalf of investors in shares of Tibet Pharmaceuticals, Inc. (NASDAQ:TBET) over potential securities laws violations by certain officers and directors at Tibet Pharmaceuticals, Inc. was announced.
Investors who purchased shares of Tibet Pharmaceuticals, Inc. (NASDAQ:TBET) 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 focuses on possible claims on behalf of purchasers of the securities of Tibet Pharmaceuticals, Inc. (NASDAQ:TBET)) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements over Tibet Pharmaceuticals’ business, its prospects and its operations were potentially materially false and misleading at the time they were made.
Tibet Pharmaceuticals, Inc. reported that its annual Revenue rose from $15.58million in ’08 to $32.26million in 2010 and its Net Income increased from $5.93million in 2008 to $13.14million in 2010.
For the first three quarters in 2011 Tibet Pharmaceuticals, Inc. reported a combined nine months Revenue of $25.57million and a combined nine months Net Income of $7.75million.
However, shares of Tibet Pharmaceuticals, Inc. (NASDAQ:TBET) declined from $5.53 per share in January 2011 to as low as $0.72 per share in February 24, 2012.
NASDAQ:TBET shares closed on April 2, 2012 at $1.29 per share. The next day the NASDAQ stock market announced that it had halted trading in Tibet Pharmaceuticals, Inc stock for “additional information requested.”
The trading halt has rendered Tibet Pharmaceuticals stock illiquid.
Those who purchased shares of Tibet Pharmaceuticals, Inc. (NASDAQ:TBET), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego