SOURCE: Izard Nobel LLP

September 21, 2010 16:55 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Duoyuan Printing, Inc.

WEST HARTFORD, CT--(Marketwire - September 21, 2010) -  The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of the securities of Duoyuan Printing, Inc. ("Duoyuan" or the "Company") (NYSE: DYP) pursuant and/or traceable to the Company's November 6, 2009 initial public offering and from November 6, 2009 through September 13, 2010 (the "Class Period").

The Complaint charges Duoyuan and certain of its officers and directors with violations of federal securities laws. Specifically, the Complaint alleges that defendants made misleading statements and failed to disclose the following: (i) that the authenticity of certain of the Company's expenses related to advertising and tradeshow costs could not be verified; (ii) that Duoyuan had improper relationships with certain vendors and distributors; (iii) that, as a result, the Company's financial results were misstated during the Class Period; and (iv) that Duoyuan lacked adequate internal and financial controls.

On September 13, 2010, Duoyuan disclosed that the Company dismissed its independent accounting firm and was reorganizing its top management. Then, Duoyuan's CEO, CFO and four members of the Company's Board of Directors resigned. On this news, Duoyuan's shares fell $3.60 to close at $2.99 on September 13, 2010.

If you are a member of the class, you may, no later than November 19, 2010, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/duoyuan/, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

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