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The wave of new securities class action lawsuits
involving accounting scandals at U.S-listed Chinese firms is already a well-established
phenomenon . But in the latest twist on the tale, Deer Consumer Products , one of the U.S.-listed
During 2011, plaintiffs filed a wave of securities class
action lawsuits against U.S.-listed Chinese companies. There were 39 of these
lawsuits filed in 2011 (out of 218 total securities class action lawsuit
filings in 2011), as discussed here .
Yet another U.S.-traded Chinese-based company has been
hit with an accounting fraud securities class action lawsuit. The latest
lawsuit, involving Longtop Financial Technologies
Limited , comes after a series of stunning announcements from the company...
Despite marked alleged differences between revenues and
profits reported in China Century Dragon Media's U.S. IPO prospectus and the
equivalent figures reported in its Chinese operations' filings in China, a
federal court has granted the dismissal...
For many years, one of the fundamental goals of
shareholder rights activists has "proxy access," which would require
corporations to include shareholder nominated board candidates on the company's
proxy ballots. Last year, in the wake...