I see the fraud every day in country China. I change mind on ABAT. I see ex-orbitting lifestyle of rich and famous and we need to reforming.
Pomerantz going to fry ABAT with big settlement and bring justice to cause. Pomerantz going to teach Fuzzy a lesson.
Pomerantz was appointed Lead Counsel on September 9, 2011 in the class action lawsuit against Advanced Battery Technologies, Inc. (“Advanced Battery” or the “Company”) (Nasdaq: ABAT) and certain of its officers. The class action (11 civ. 2849), pending in the Southern District of New York, is on behalf of a class of all persons who purchased Advanced Battery securities during the period from November 24, 2008 through and including March 29, 2011 (the “Class Period”). The Complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s claimed distribution relationships with certain manufacturers of electric motorcycles and scooters were false; (2) the Company’s reported financial statements were grossly inflated
Pomerantz also won $225,000,000 from Converse. I sorry for Fuzzy. He is going to get the smearing. I sorry for shareholders too. But Chinese believe we honest, but so many lies. So many lies.
I want to read book Empire of Lies: The Truth about China in the Twenty-First Century.
Soon, we see big judgement coming. . .
I bet ABAT has to pay 50 million to say the least.