China Organic Agriculture, Inc. CNOA Securities Stock Fraud

Company:	China Organic Agriculture, Inc.
Ticker Symbol:	CNOA
Class Period:	Nov-12-08 to May-17-11
Date Filed:	Jan-24-12
Lead Plaintiff Deadline:	Mar-24-12
Court:	Southern District of New York
Allegations:

New York, NY: A securities class action lawsuit has been filed in the United States District Court for the Southern District of New York, on behalf of all persons who transacted in China Organic Agriculture, Inc. ("China Organic" or the "Company") common stock between the expanded class period of November 12, 2008 and May 17, 2011 inclusive (the "Class Period").

The complaint alleges that throughout the Class Period, China Organic misled investors by (1) improperly announcing the sale of a subsidiary in 2008, when the transaction was actually completed in the second half of 2009; (2) knowingly or recklessly disregarding the reality that the Company's disclosure controls were ineffective; and (3) knowingly or recklessly disregarding the fact that the 2008 Form 10-K overstated pre-tax income by $3,015,387.

Despite China Organic's continuous restatements and officer resignations, on May 17, 2011, the Company announced that it would be filing its Form 10-Q five days late and misled the market to believe that it would ultimately be in compliance with the Securities Exchange Act of 1934's reporting requirements. However, once the market realized that the Company would not make the requisite filings, China Organic's common stock dropped to $0.01 per share.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

China Organic Agriculture, Inc. CNOA Securities Fraud Legal Help

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Published on Jan-25-12