Post-resignation Statements Sung argues that she cannot be held liable for any statements Jiangbo made after her resignation as CFO became effective on March 31, The forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in such forward-looking statements.
Based on our years of industrial experience and research and development knowledge, to get a new drug formula approved from scratch usually take at least 8 years, so we are amortizing the pharmaceutical formulas as defensive assets over 8 years.
The Letter shows that in May 25,she told Cadwalader that she did not object to providing her materials to the law firm, but Jiangbo had not authorized her to do so. In making this determination, a court must consider the complaint in its entirety, not any particular allegation in isolation.
Under the group pleading doctrine, the identification of the individual sources of statements is unnecessary when the fraud allegations arise from misstatements or omissions in group-published documents, such as annual reports, prospectuses, registration statements, press releases, or other group published information that presumably constitute the collective actions of those individuals involved in the day-to-day affairs of the corporation.
We believe this represents an exceptional market opportunity. The statements do not consist of information that was already publicly available.
There may be events in the future that we are not able to accurately predict or control. Dean Witter Reynolds, Inc. The roots of TCM date back thousands of years and include a number of therapeutic approaches.
Specifically, she contends that the following claims were not pled with requisite particularity: Acquisition of Land Use Right On November 5,we acquired land use right with respect to asquare meters parcel of land located in high-tech development district of Laishan. Further, the court must engage in a comparative analysis of the allegations: Accordingly, it would be impossible to determine whether any particular insider sales are linked temporally to any alleged acquisitions and whether those Individual Defendants who occupied executive positions for only part of the Class Period were in positions of power at [the defendant company] when the alleged acquisitions took place.
She argues that Plaintiffs do not state facts regarding i the amount by which the reported cash balances were overstated, ii whether the amount of the overstatements was material, iii who authorized or participated in the overstatements, or iv whether Sung knew about the overstatements and, if so, how she knew.
Jiangbo is in default for failure to appear or otherwise respond to this action. Sung argues that this was "old news" because in May Jiangbo disclosed that it had become delinquent on the interest payments for the and Debentures.
On January 19,Jiangbo and Pope entered into a Letter Agreement, which included renegotiated payment terms and extended the due date of the Debenture to February 28, The acquisition of Yantai Tianzheng marked a major milestone for our Company.
Allegations of Scienter To withstand dismissal, a complaint must state with particularity facts giving rise to a strong inference that each defendant acted with scienter in each act or omission alleged. Very early works of Chinese medical literature date back as much as 2, years while other classics appeared approximately 2, years ago during the Han Dynasty.
This is insufficient to show scienter, when compared with what the auditor stands to lose by participating in fraud — its reputation and ability to secure further work. In addition, each installment requires satisfaction of conditions applicable to its prior payment scompletion of assignment of certain licenses or certificates, and absence of a material adverse change affecting Yantai Tianzheng during the respective installment periods.
Plaintiff identifies precisely what statements Defendants, including Sung, made, the time and place of each statement, and the content of each statement.ramirez, jr.
v. hertz global holdings, inc.
et al doc. not for publication united states district court district of new jersey civil action no. in re: hertz global holdings, inc. Jiangbo Pharmaceuticals Inc. it is unable to rely on management’s representations as they relate to previously issued financial statements and it could no longer support its audit opinion dated March This is a federal class action on behalf of purchasers of Jiangbo Pharmaceuticals, Inc.
("Jiangbo" or the "Company") securities between June 8, 20 i 0, and May 3 i, 20 i i, inclusive (the "Class Period"), seeking damages for.
Upon the consummation of the Merger, the separate existence of Merger Sub ceased and our shareholders became shareholders of the surviving company named Bohai Pharmaceuticals Group, Inc.
Jiangbo Pharmaceuticals, Inc. Restatement Analysis - INTRODUCTION In this essay, we will discuss the financial restatements of the K report of Jiangbo Pharmaceuticals, Inc.
We will discuss the underlying accounting issues, in which financial ratios were affected, and the nature of the misreporting. Jiangbo is a holding company incorporated in Florida, which operates, controls, and owns the pharmaceutical business of Laiyang Jiangbo Pharmaceutical Co., Ltd.
("Laiyang Jiangbo"), which operates entirely in the People's Republic of China.Download