Securities Claims Against Auditor For Chinese Reverse Merger Company Dismissed

Securities Claims Against Auditor For Chinese Reverse Merger Company Dismissed

NEW YORK - Dismissal of a shareholder's securities class action lawsuit against a Chinese company's former auditor and the one of auditors former principals is proper because the shareholder failed to plead an actionable misrepresentation, scienter or loss causation, a federal judge in New York ruled Sept. 30 (In re China Organic Securities Litigation, No. 11-8623, S.D. N.Y.).

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