1. Latest News
  2. Submit Press Release
  1. PR Home
  2. Latest News
  3. Feeds
  4. Alerts
  5. Submit Free Press Release
  6. Journalist Account
  7. PRNewswire Distribution

Keyuan Petrochemicals, Inc. faces Investor Investigation over potential Securities Laws Violations

The Shareholders Foundation announces that an investigation for investors of Keyuan Petrochemicals, Inc. (NASDAQ:KEYP) over possible securities laws violations was initiated and KEYP stockholders should email to mail@shareholdersfoundation.com

 
 
mail@shareholdersfoundation.com
mail@shareholdersfoundation.com
PRLog - Apr. 4, 2011 - SAN DIEGO -- After trading of KEYP shares was halted an investigation on behalf of investors of Keyuan Petrochemicals, Inc. (NASDAQ:KEYP) over possible violations of Federal Securities Laws was announced.

If you purchased shares of Keyuan Petrochemicals, Inc. (NASDAQ:KEYP), and/or if you have any information relating the investigation including former employees and /or whistleblowers, you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on potential securities claims against Keyuan Petrochemicals, Inc. (NASDAQ: KEYP) resulting from allegations that Keyuan Petrochemicals may have issued materially false financial statements and information to investors.

Keyuan Petrochemicals, Inc. reported for the first three quarters in 2010 a combined nine months Total Revenue of $400.71million with a combined nine months Net Income of $18.54million.
Prior to market open on April 1, 2011 trading in Keyuan Petrochemicals’ stock halted. Thereafter, Keyuan Petrochemicals issued a press release announcing that it would not be able to timely release its financial results for the fiscal year ended December 31, 2010. The announcement also revealed that “the accounting review conducted to date had identified various concerns” that prompted the Company’s audit committee to undertake an independent investigation.
Later the same day, Keyuan Petrochemicals filed an 8-K with the U.S. Securities and Exchange Commission (“SEC”) under item 4.02 entitled “Non-Reliance on Previously Issued Financial Statements.” According to the 8-K, Keyuan Petrochemicals’ auditors informed Keyuan Petrochemicals “that there is a possibility that we may be required to make certain adjustments to certain of our previously issued financial statements, and that such previously issued financial statements may not be relied upon.”

Those who purchased shares of Keyuan Petrochemicals, Inc. (Public, NASDAQ:KEYP), and/or those who have any information relating the investigation including former employees and /or whistleblowers, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

# # #

The Shareholders Foundation, Inc. is a professional portfolio monitoring service and an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Photo:
http://www.prlog.org/11415324/1

--- End ---

Click to Share

Contact Email:
***@shareholdersfoundation.com Email Verified
Source:Shareholders Foundation, Inc.
Phone:+1-(858)-779-1554
Zip:92108
Location:San Diego - California - United States
Industry:Banking, Business, Finance
Tags:KEYP, Keyuan, Keyuan Petrochemicals, NASDAQ KEYP, Finance, securities laws, investigations, investor, stock market
Shortcut:prlog.org/11415324
Verified Account Email Address
Verified Account Phone Number

Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Trending News...



  1. SiteMap
  2. Privacy Policy
  3. Terms of Service
  4. Copyright Notice
  5. About
  6. Advertise
Like PRLog?
9K2K1K
Click to Share