BENSALEM, Pa., Dec. 2, 2010 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith, representing investors of RINO International Corporation ("RINO" or the "Company") (Nasdaq:RINO), announces that the Class Period has been expanded in the shareholder lawsuit filed in United States District Court for the Central District of California to include all persons or entities who purchased RINO common stock between February 17, 2009, and November 12, 2010, inclusive (the "Class Period").
The Complaint charges the Company and certain of its executive officers with violations of federal securities laws. RINO operates as an environmental protection and remediation company in the People's Republic of China, engaging in designing, manufacturing, installing and servicing wastewater treatment and flue gas desulphurization ("FGD") equipment, primarily for use in the iron and steel industry, and anti-oxidation products and equipment for use in the manufacture of hot rolled steel plate products. Specifically, the Complaint alleges that throughout the Class Period defendants issued materially false and misleading statements concerning RINO's business, operations and prospects and/or failed to disclose: (1) that certain customers did not purchase FGD systems as the Company had previously claimed; (2) that the Company's financial results reported to China's State Administration of Industry and Commerce were substantially less than the financial results the Company reported to the public and contained in the financial statements RINO filed with the SEC; (3) that the Company lacked adequate internal and financial controls; and (4), as a result of the foregoing, that the Company's financial results were materially false and misleading at all relevant times.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased RINO securities between February 17, 2009 and November 12, 2010, you have certain rights, and have until January 14, 2011, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice 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, by email to howardsmith@howardsmithlaw.com or visit our website at http://www.howardsmithlaw.com.
CONTACT: Law Offices of Howard G. Smith Howard G. Smith, Esquire (215) 638-4847 (888) 638-4847 howardsmith@howardsmithlaw.com www.howardsmithlaw.com