| China Northeast Petroleum |
The Rosen Law Firm has filed a class action lawsuit on behalf of China Northeast Petroleum shareholders, alleging that the Company and certain officers and directors have violated the federal securities laws by issuing misleading financial statements. The company announced its audit committee discovered improper cash transfers in 2009 between bank accounts of the Company and the personal accounts of a certain Company officer and a Company director. The Company’s CFO and a director have resigned. China North also announced that its CEO was placed on administrative leave and that he stepped down as Chairman of the Board, both pending the outcome of the Company’s forensic audit. China Northeast's stock price has dropped as a result of this adverse news. The Rosen Law Firm has filed a class action on behalf of investors who purchased shares during the period from August 14, 2009 to May 25, 2010. If you would like to join the proposed class action, please click on the link to the right of the page and complete a certification form => |
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| For more Information | |||
 Case Summary
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Press Release
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 Read the Complaint
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