The Rosen Law Firm, P.A. announces that it is investigating potential securities claims against AutoChina International Limited ("AutoChina") (OTC: AUTCF).
On April 11, 2012 news outlets reported that the SEC filed an enforcement action alleging securities fraud against AutoChina and others for illegally manipulating the market for AutoChina stock.
On June 30, 2011, AutoChina announced that it had to restate its financial statements for the year ended December 31, 2009. On November 30, 2011 the Company filed its restated financial information with the SEC, revealing an $89.5 million decrease in income from the Company's statement of operations for 2009 due to the errors relating to the accounting for an earn-out obligation.
As a result of these adverse events, AutoChina stock has declined in value and shareholders have suffered losses in their investments.
If you purchased AutoChina securities from Rodman & Renshaw LLC or Chardan Capital Markets LLC in connection with a registered direct offering beginning in March of 2010, or purchased AutoChina stock any time prior to April 11, 2012, you may be able to seek compensation for your losses.
The Rosen Law Firm is investigating a potential class action lawsuit to help AutoChina shareholders recover their losses. Please visit the website at http://www.rosenlegal.com or www.investorcounsel.us to join the proposed class action and for more information. You may also contact Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or ??????,??????212-686-1060,??? szhang@rosenlegal.com, ??????????????.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contacts:
The Rosen Law Firm P.A.
Laurence Rosen, Esq.
Phillip Kim, Esq.
275
Madison Avenue 34th Floor
New York, New York 10016
Tel:
(212) 686-1060
Weekends Tel: (917) 797-4425
Toll Free:
1-866-767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
szhang@rosenlegal.com
www.rosenlegal.com
