Jiangbo pharmaceuticals inc restatement analysis

In addition to these lead products, three of our current products and five of our formulas we acquired in are eligible for NRDL reimbursement. To state a Section 20 a claim, Plaintiffs must allege three elements: 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.

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.

Three of our lead products, Lung Nourishing Syrup and Tongbi Capsules and Tablets, are eligible for insurance reimbursement coverage, with others expected to follow.

Although there is no "magic number" of problem areas that a plaintiff must show to support scienter, I find, on the whole, that Plaintiffs have failed to allege that the internal controls weaknesses were so pervasive and obvious in nature as to establish, at a minimum, severe reckless disregard.

We receive substantially all of our revenues in RMB. Because the CAC does not contain any factual allegations to establish that Jiangbo was a party to the transaction, Plaintiffs fail to establish that Defendants had a duty to disclose it under Item a. While TCM has remained a substantial part of medical treatment in China and throughout East Asia, recent decades have seen increasing acceptance throughout the United States, Europe and elsewhere.

Lastly, the fact that Sung stated she was a licensed CPA when in fact her license had expired appears to be irrelevant.

The percentage interests owned by Mr. As a result, we intend to significantly increase promotions for our Lung Nourishing Syrup. United States District Court, S. The additional facts and circumstances alleged in the CAC are insufficient to show Frazer acted with knowledge or reckless disregard.

I have reviewed the arguments, the record, and the relevant legal authorities. Under such circumstances, the independent members of the Audit Committee can no longer serve the interests of shareholders by remaining on the Board.

In contrast, when the court in In re Hamilton Bankcorp relied on lack of internal controls as one of several red flags to support scienter, the plaintiffs had alleged nineteen specific problem areas, supported by a separate report.

Sung points to the following facts, which she contends supports the opposite inference, that she did not act with scienter: However, the existence of this potential defense does not preclude Plaintiffs from moving forward with their claim at this stage of litigation.

Jiangbo disclosed in its FY Form K: Plaintiffs therefore fail to establish Frazer acted with scienter. The patent was awarded for a period of 20 years starting from the day of its application on May5, The acquisition expanded our product lines and allows us to leverage our respective sales and distribution channels.

In the Eleventh Circuit, a Section 10 b or Rule 10b-5 violation requires a showing of either an "intent to deceive, manipulate, or defraud" or "severe recklessness.

A "strong inference" of scienter means an inference that is "more than merely plausible or reasonable — it must be cogent and at least as compelling as any opposing inference of nonfraudulent intent.


Sung served as a part-time consultant for the Company after that date. We share manufacturing rights with one or more manufacturers for our Anti-flu Granules product. Under existing PRC foreign exchange regulations, payments of current account items, including profit distributions, interest payments and expenditures from trade-related transactions, can be made in foreign currencies without prior approval from the PRC State Administration of Foreign Exchange by complying with certain procedural requirements.

The state-run facilities provide the majority of medical care in China.

RAMIREZ, JR. v. HERTZ GLOBAL HOLDINGS, INC. et al, No. 2:2013cv07050 - Document 135 (D.N.J. 2017)

In addition, as evidenced by our acquisition of YantaiTianzheng, we may seek additional acquisition candidates or undertake other strategic transactions to broaden our product offerings and sales, marketing and manufacturing capabilities.SRO Filing BATS Exchange, Inc. BATS Y-Exchange, Inc.

Chicago Board Options Exchange, Incorporated Chicago Stock Exchange, Inc. EDGA Exchange, Inc. EDGX Exchange, Inc. Financial Industry Regulatory Authority, Inc.

Bohai Pharmaceuticals Group Inc. (BOPH)

NASDAQ OMX BX, Inc. NASDAQ OMX PHLX LLC NASDAQ Stock Market LLC National Stock Exchange, Inc. Jiangbo Pharmaceuticals, Inc. restated its K report from July 1, to September 30, Jiangbo did not include the dilutive effects of its May convertible debentures from the earnings per share calculation for the year ended June 30, 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 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 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. 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 .

Jiangbo pharmaceuticals inc restatement analysis
Rated 5/5 based on 61 review