NEW YORK, April 14, 2011 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that it is investigating potential securities fraud claims against SkyPeople Fruit Juice, Inc. ("SkyPeople", or the "Company") (Nasdaq:SPU) resulting from allegations that the Company may have issued materially inaccurate financial statements to the investing public between March 31, 2010 and April 4, 2011.
On March 31, 2010, the Company issued its Annual Report on Form 10-K for the year ending December 31, 2009. The Company stated that there were no related party transactions that year.
On April 1, 2011, the Company issued its Annual Report on Form 10-K for the year ending December 31, 2010. It stated that one of the Company's major acquisitions in 2009, Yingkou Trusty Fruits Co., Ltd., had been 46% owned by a company which in turn was 80% owned by SkyPeople's CEO and 20% owned by a director of SkyPeople.
On April 1, 2011, Roth Capital Partners cut their price target for SkyPeople from $13 to $4.50, citing concerns about related party transactions.
From March 31, 2011 to April 4, 2011, SkyPeople stock price fell from $4.41 per share to $3.57 per share, damaging investors.
The Rosen Law Firm is investigating a securities class action lawsuit on behalf of SkyPeople investors. If you purchased SkyPeople stock between March 31, 2010 and April 4, 2011, please visit the website at for more information. You may also contact Jonathan Horne, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org.
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: Jonathan Horne, Esq. The Rosen Law Firm P.A. 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 email@example.com www.rosenlegal.com