|[November 28, 2012]
Glancy Binkow & Goldberg LLP Announces Investigation of SinoHub, Inc.
LOS ANGELES --(Business Wire)--
Glancy Binkow & Goldberg LLP announces that it is investigating
potential claims on behalf of purchasers of the common stock of SinoHub,
Inc. ("SinoHub" or the "Company") (OTC Markets:SIHI) concerning possible
violations of federal securities laws. The investigation focuses on
allegations that certain statements issued by SinoHub between May 17,
2010 and August 21, 2012 were false and misleading concerning the
Company's financial performance and prospects.
SinoHub, together with its subsidiaries, operates as an electronics
company worldwide offering electronic component sales and services. The
investigation is related to allegations that the Company failed to
implement and maintain adequate internal controls over financial
reporting, resulting in the use of improper accounting procedures and
the overstatement of the Company's financial performance and prospects.
On August 21, 2012 SinoHub issued a press release announcing that it was
unable to file its quartely report on Form 10-Q for the quarter ended
June 30, 2012 within the five day extended period afforded to it
pursuant to a Notification of Late Filing on Form 12b-25 that the
Company filed with the Securities and Exchange Commission on August 14,
2012. According to the Company, it was unable to timely file its
quarterly report "because of a delay in retrieving information requested
by our auditors to confirm prior period sales associated with our
electronic component sales (ECP) business." In addition, the Company
released preliminary financial results for the quarter ended June 30,
2012 showing a net loss of $2.7 million for the quarter.
If you purchased SinoHub common stock between May 17, 2010 and August
21, 2012, if you have information or would like to learn
more about these claims, or if you wish to discuss these matters or
have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067, by telephone at (310)
201-9150, Toll Free at (888) 773-9224, by e-mail to email@example.com,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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