San Diego based law firm Robbins Umeda LLP has commenced an investigation into China-Biotics, Inc.? concerning possible violations of USA state and federal securities laws.
Robbins Umeda say in a press release
China Biotics claims that it engages in the research, development, production, marketing, and distribution of probiotics products in the People’s Republic of China. The Company states that it offers multiple products under the Shining brand, which contain live microbial food supplements. These supplements, according to China Biotics, beneficially affect the host by improving its microbial balance. China Biotics claims to distribute its retail products directly, as well as through distributors in the greater Shanghai area. China Biotics was founded in 1999 and is based in Pudong, the People’s Republic of China.
Robbins Umeda LLP’s investigation concerns recent market commentators’ reports questioning the veracity of China Biotics’ claims in U.S. Securities and Exchanges Commission (“SEC”) filings that it has a “network of stores” distributing its products. These reports also question the authenticity of China Biotics’ financial reports filed with the SEC regarding the Company’s cash on hand and the reported accrued interest. Furthermore, there appears to be material discrepancies between the filings by China Biotics’ main operating subsidiary Shanghai Shining Biotechnology Co., Ltd with the State Administration for Industry & Commerce of the People’s Republic of China and those filed by the Company with the SEC.
If you purchased or own China Biotics common stock and would like more information about your rights as a shareholder and our investigation, please contact Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsumeda.com
Robbins Umeda LLP is a California-based law firm, which has significant experience representing investors in securities fraud class actions, merger-related shareholder class actions, and shareholder derivative actions. For more information about the firm, please go to http://www.robbinsumeda.com.