DYP Duoyuan Printing, Common Shares

Law Offices of Howard G. Smith, representing investors of Duoyuan Printing, Inc. (“Duoyuan Printing” or the “Company”) (NYSE:DYP), has filed a class action lawsuit in United States District Court on behalf of a class (the “Class”) consisting of all persons or entities who purchased the securities of Duoyuan Printing pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with the Company’s November 6, 2009 initial public offering (the “IPO”) and purchasers of the Company’s securities during the period from November 6, 2009 through and including September 13, 2010 (the “Class Period”). The class action lawsuit was filed in the United States District Court for the Southern District of New York.

The Complaint charges Duoyuan Printing and certain of the Company’s executive officers with violations of federal securities laws. Duoyuan Printing is a Beijing, China-based manufacturer of commercial offset printing presses. The Complaint alleges that throughout the Class Period defendants issued false and/or misleading statements and/or failed to disclose that: (1) the authenticity of certain of the Company’s expenses related to advertising and tradeshow costs could not be verified; (2) the Company had improper relationships with certain vendors and distributors; (3) as a result, the Company’s financial results were misstated during the Class Period; (4) the Company lacked adequate internal and financial controls; and (5), as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.

On September 13, 2010, Duoyuan Printing disclosed that the Company dismissed its independent registered public accounting firm, Deloitte Touche Tohmatsu CPA Ltd. (“Deloitte”), and was reorganizing its top management in connection with the Company’s “desire to resolve open issues and file our 10-K on a timely basis.” In addition, the Company’s chief executive officer, chief financial officer, and four members of the Company’s board of directors resigned after the dismissal of Deloitte. As a result of this news, Duoyuan Printing securities declined $3.60 per share, or more than 54%, to close on September 13, 2010, at $2.99 per share.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Duoyuan Printing securities pursuant and/or traceable to the Company’s November 6, 2009 IPO and/or between November 6, 2009 and September 13, 2010, you have certain rights, and have until November 19, 2010, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to howardsmith@howardsmithlaw.com or visit our website at http://www.howardsmithlaw.com.

Duoyuan Printing, Common Shares (NYSE:DYP)
Gráfica de Acción Histórica
De Abr 2024 a May 2024

Duoyuan Printing, Common Shares (NYSE:DYP)
Gráfica de Acción Histórica
De May 2023 a May 2024