本文摘要：NEWYORK,Aug.3,2011(GLOBENEWSWIRE)--MilbergLLPtodayannouncedthatonAugust2,2011,thefirmfiledaclassactionlawsuitonbehalfofinvestorswhopurchasedthesecuritiesofJiangboPharmaceuticals,Inc.("Jiangbo"orthe"Company")(Nasdaq:JGBO)duringtheperiodJune

NEWYORK,Aug.3,2011(GLOBENEWSWIRE)--MilbergLLPtodayannouncedthatonAugust2,2011,thefirmfiledaclassactionlawsuitonbehalfofinvestorswhopurchasedthesecuritiesofJiangboPharmaceuticals,Inc.("Jiangbo"orthe"Company")(Nasdaq:JGBO)duringtheperiodJune8,2010,toMay31,2011,inclusive(the"ClassPeriod").Thecase,Lewisv.JiangboPharmaceuticals,Inc.,No.1:11-cv-22788-PAS,ispendingintheUnitedStatesDistrictCourtfortheSouthernDistrictofFloridaandallegesviolationsoftheSecuritiesExchangeActof1934byJiangboandcertainoftheCompany'sofficers.JiangboresearchesanddevelopspharmaceuticalproductsinChina.JiangboproducesbothwesternandChineseherbal-basedmedicaldrugsintablet,capsule,granule,syrup,andelectuaryform.TheComplaintallegesthatthroughouttheClassPeriod,DefendantsmademateriallyfalseandmisleadingstatementstoinvestorsbymateriallyoverstatingtheCompany'scashbalancesandfailingtodisclosethatJiangbo'sinternalcontrolsoverfinancialreportingwereinadequate.InMarch2011,theCompany'sChiefFinancialOfficerresigned.OnApril4,2011,theCompanyreportedthatithadreplaceditsauditor.OnMay27,2011,theCompanydisclosedthattheSecuritiesandExchangeCommissionhad,inDecember2010,commencedaninformalinvestigation.OnMay31,2011,NASDAQhaltedtradingofJiangbostock.TheCompanyreceivedadelistingletterfromNASDAQonJuly26,2011.IfyoupurchasedsecuritiesofJiangbofromJune8,2010,toMay31,2011,youmaymovethecourtnolaterthanSeptember14,2011,andrequestthattheCourtappointyouasleadplaintiff.Aleadplaintiffisaclassmemberthatactsonbehalfofotherclassmembersindirectingthelitigation.Yourshareinanyrecoverywillnotbeenhancedordiminishedbyservingasaleadplaintiff,however,leadplaintiffsmakeimportantdecisionsthatcouldaffecttheoverallrecoveryforclassmembers.Youdonotneedtobealeadplaintifftorecoverinaclassaction;youcanrecoverasanabsentclassmember.YoumayretainMilbergLLP,orotherattorneys,forthisaction,butdonotneedtoretaincounseltorecoverasanabsentclassmember.Ifthisactioniscertifiedasaclassaction,classmemberswillbeautomaticallyrepresentedbycourt-appointedcounsel.ThelawsuitsdiscussedherewerenotfiledbyMilberg.MilbergLLPhasbeenrepresentingindividualandinstitutionalinvestorsformorethanfourdecadesandservesasleadcounselinfederalandstatecourtsthroughouttheUnitedStates.PleasevisittheMilbergwebsiteformoreinformationaboutthefirm.Ifyouwishtodiscussthismatterwithus,orhaveanyquestionsregardingthismatter,pleasecontactthefollowingattorneys:AndreiRado,Esq.JessicaSleater,Esq.
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