NEW YORK, Nov. 12, 2010 (GLOBE NEWSWIRE) -- The Rosen Law Firm today announced that it has commenced an investigation into allegations that RINO International Corporation ("RINO") (Nasdaq:RINO) may have violated the federal securities laws by issuing false and misleading statements to investors about its business and financial condition.
Recently, one market commentator published a report questioning the accuracy of RINO's financial statements. In its SEC filed annual report for fiscal 2009, RINO reported $193 million of revenue, while the annual report it filed for 2009 with the China State Administration for Industry and Commerce reported only $11 million of revenue. This discrepancy, along with other accounting inconsistencies and questionable transactions between RINO and its management, has raised red flags and prompted an internal review.
As a result of these allegations, the Rosen Law Firm is preparing a class action lawsuit on behalf of investors who suffered losses purchasing RINO stock.
You may access the website at to participate in the proposed class action.
If you purchased RINO securities and would like further information concerning your legal rights or your ability to recover your investment losses, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com or visit the website at
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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CONTACT: The Rosen Law Firm P.A. Laurence Rosen, Esq. lrosen@rosenlegal.com Phillip Kim, Esq. pkim@rosenlegal.com (212) 686-1060 Weekends Tel: (917) 797-4425 Toll Free: 1-866--767-3653 Fax: (212) 202-3827 www.rosenlegal.com 275 Madison Avenue, 34th Floor New York, New York 10016