对FUQI 调查

20108

Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Fuqi International, Inc.

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims against Fuqi International, Inc. (“Fuqi International” or the “Company”) (Nasdaq:FUQI) concerning possible securities violations related to the Company’s public statements regarding its financial performance between May 15, 2009 and March 16, 2010. Fuqi International, through its subsidiaries, engages in designing, developing, promoting and selling precious-metal jewelry in the People’s Republic of China.

“it is expected that as a result of the accounting errors, the cost of sales for each of the periods were understated and gross profit and net income, as a result, were accordingly overstated.”
The investigation concerns the Company’s March 16, 2010, announcement that it will delay the release of its final fourth quarter and year-end 2009 financial results, and will also file an extension for the filing of its Form 10-K for 2009 with the U.S. Securities and Exchange Commission. According to the statement, “the Company identified certain accounting errors that are expected to have a material impact on the previously issued quarterly financial statements for the first three quarters of 2009.” The Company further announced that “it is expected that as a result of the accounting errors, the cost of sales for each of the periods were understated and gross profit and net income, as a result, were accordingly overstated.” The Company’s statement preliminarily estimated that the earnings per share included in its previously issued financial statements for the nine-month period ended September 30, 2009, were overstated in the range of $0.15-$0.19 per share.

If you purchased shares of Fuqi International, Inc. stock between May 15, 2009 and March 16, 2010 and suffered a loss, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement 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, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

ranchgirl

I don't buy Chinese stock in the US.