|[January 03, 2013]
Glancy Binkow & Goldberg LLP Announces Investigation of Longwei Petroleum Investment Holdings Limited
LOS ANGELES --(Business Wire)--
Glancy Binkow & Goldberg LLP announces that it is investigating
potential claims on behalf of purchasers of the securities of Longwei
Petroleum Investment Holdings Limited ("Longwei Petroleum" of the
"Company") (NYSE MKT: LPH) concerning possible violations of federal
securities laws. The investigation focuses on allegations that certain
statements issued by Longwei Petroleum were false and misleading
concerning the Company's business and financial performance.
Longwei Petroleum is a Shanxi, China-based energy company engaged in the
wholesale distribution of finished petroleum products in the People's
Republic of China (the "PRC"). The Company's oil and gas operations
consist of transporting, storing and selling finished petroleum
products, entirely n the PRC. The investigation concerns allegations in
a January 3, 2013 report published by GEOInvesting.com
alleging that Longwei Petroleum exaggerated the Company's November 2012
sales figures for its fuel depot storage facilities in Taiyuan and in
Gujiao, Shanxi, and, in addition, failed to disclose a $32 million
investment in a tourism business made by Longwei Petroleum's subsidiary,
Shanxi Zhonghe Energy Conversion Co., Ltd.
If you purchased Longwei Petroleum securities prior to January 3, 2013,
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 firstname.lastname@example.org,
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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