China North East Petroleum Holdings Limited (NYSE Amex:NEP)
MURRAY, FRANK & SAILER LLP is investigating securities fraud claims against China North East Petroleum Holdings Limited ("China North" or the "Company") (NYSE Amex:NEP) and certain of its officers, on behalf of purchasers of China North securities between August 14, 2009 and May 26, 2010, inclusive (the "Class Period").
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It is alleged that during the Class Period, China North and certain of its officers and directors violated the federal securities laws by issuing false and misleading financial information to investors. On May 27, 2010, the Company disclosed the resignation of the Company's Chairman of the Board, CFO, a director, and the placement of the CEO on administrative leave due to preliminarily findings that in 2009, unauthorized cash transfers occurred between the bank accounts of the Company and its subsidiaries and the personal bank accounts of the Company's CEO and a director who is also the mother of the CEO. The trading of the Company's stock has been halted because the Company was not in compliance with the continuing listing standards of the NYSE Amex, more specifically; the Company did not timely file its 2009 annual report.
If you purchased China North securities within the Class Period, you may move the Court, not later than August 10, 2010, to serve as Lead Plaintiff for the class. A Lead Plaintiff is a representative chosen by the Court who acts on behalf of other class members in directing the litigation. You do not need to be a Lead Plaintiff to be included in the class. If you wish to discuss this litigation, or have any questions concerning this notice or your rights or interests with respect to these matters, please contact us.
Contact:
MURRAY, FRANK & SAILER LLP
Eva Hromadkova
212-682-1818
800-497-8076
