NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, P.A. announces that it is investigating potential violations of federal and state laws against Ever-Glory International Group, Inc. (NYSE:EVK) resulting from allegations that the company may have issued materially misleading information about its true financial condition.
On May 7, 2013, Ever-Glory announced that its financial statements previously filed with the U.S. Securities and Exchange Commission for the following periods should no longer be relied upon: (i) three-month period ended March 31, 2012; (ii) three-month period and six-month period ended June 30, 2012; and (iii) three-month period and nine-month period ended September 30, 2012. On October 7, 2013, Ever-Glory announced that it received a warning letter from NYSE Regulations for its failure to obtain the prior approval of its audit committee for certain related party transactions. Upon disclosure of this news, shares of Ever-Glory fell $0.76 per share or 16% on October 7, 2013, to close at a price of $3.976 per share.
The Rosen Law Firm is preparing securities claims on behalf of investors as a result of this adverse information. If you purchased Ever-Glory securities prior to October 7, 2013, you may visit the website at http://www.rosenlegal.com to join the action. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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