Contact Information: Contact: Joseph Gentile SARRAF GENTILE LLP 11 Hanover Square New York, NY 10005 T 212.868.3610 F 212.918.7967 www.sarrafgentile.com
Sarraf Gentile LLP Files Securities Class Action Against China Organic Agriculture, Inc.
| Source: Sarraf Gentile LLP
NEW YORK, NY--(Marketwire - December 12, 2008) - On December 12, 2008, the law firm of Sarraf
Gentile LLP commenced a securities fraud class action lawsuit on behalf of
those investors who acquired the securities of China Organic Agriculture,
Inc. ("China Organic" or the "Company") (OTCBB : CNOA ) during the period
July 12, 2007 to August 14, 2008, inclusive (the "Class Period"). The
lawsuit is pending in the United States District Court for the Southern
District of New York, alleges violations of sections 10(b) and 20(a) of the
Securities Exchange Act of 1934 and names as defendants China Organic and
certain of its officers and directors.
According to the complaint, the defendants took the Company public in early
2007 and made numerous statements during the Class Period regarding the
Company's prospects and sales. Defendants, for example, claimed to be
developing organic rice for sale in China, but according to the complaint,
never developed any kind of product that could be sold at a competitive
price. According to the complaint these and other Class Period statements
were false and misleading, designed to inflate the price of the Company's
stock. Indeed, according to the complaint, insiders sold tens of millions
of dollars worth of Company stock during the Class Period, acquired for
themselves a luxury retreat in California, sold off the Company's only
significant operation and within eighteen months of taking the Company
public left only an empty shell and huge shareholder losses.
Plaintiff is represented by the law firm of Sarraf Gentile LLP, which has
extensive experience in the prosecution of class actions on behalf of
investors.
If you bought the securities of China Organic between July 12, 2007 and
August 14, 2008, you may, no later than 60 days from today, move the Court
to appoint you as lead plaintiff, a representative party that acts on
behalf of other class members. The Court must determine whether the class
member's claim is typical of other class members' claims, and whether the
class member will adequately represent the class. Your ability to share in
any recovery is not, however, affected by the decision whether or not to
serve as a lead plaintiff. You may retain Sarraf Gentile LLP or other
counsel of your choice, to serve as your counsel in this action.
If you would like to participate in this action or would like additional
information about the lawsuit, please contact Joseph Gentile at Sarraf
Gentile LLP, 11 Hanover Square, New York, NY 10005 (telephone: 212-868-3610; e-mail: joseph@sarrafgentile.com).