NEW YORK, June 3, 2011 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. today issued an update on the securities class action filed by the firm on behalf of purchasers of SkyPeople Fruit Juice, Inc. (Nasdaq:SPU) securities during the period from March 31, 2010 to April 4, 2011.
To join the SkyPeople class action, visit the Rosen Law Firm's website at , or call Jonathan Horne, Esq., toll-free, at 866-767-3653; you may also email firstname.lastname@example.org for information on the class action.
The Rosen Law Firm originally filed a class action lawsuit against SkyPeople when an audit revealed that SkyPeople had engaged in undisclosed related party transactions apparently benefiting its Chief Executive Officer and one of its Directors at the expense of shareholders. The news of the related party transactions caused SPU's stock price to fall from $4.41 to $3.57.
Then, on June 1, 2011, research group Absaroka raised serious concerns that the Company may have dramatically overstated its income, profits, and size. The concerns, coming on the heels of the Company's admission that it had engaged in undisclosed related party transactions, caused the stock price to fall further, damaging investors.
"We are evaluating the very serious allegations raised by Absaroka to determine whether shareholders who purchased after the announcement of the related party transactions but before publication of Absaroka's report can benefit from this class action," said Managing Attorney Laurence Rosen.
If you wish to join the class action as serve as lead plaintiff, you must move the Court no later than June 20, 2011. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. For more information or to discuss your rights or interests regarding this class action, please contact Jonathan Horne, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at email@example.com. You may also visit the firm's 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: 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 firstname.lastname@example.org email@example.com www.rosenlegal.com