|[July 10, 2014]
INVESTOR ALERT - Andrews & Springer LLC Is Investigating China XD Plastics Company Ltd. For Possible Violations of Securities Laws - CXDC
WILMINGTON, Del. --(Business Wire)--
& Springer LLC, a boutique securities class action law firm
focused on representing shareholders nationwide, is investigating
potential securities fraud claims against China XD Plastics Company Ltd.
("China XD" or the "Company")(NASDAQ: CXDC).
China XD is a specialty chemical company that creates plastics used in
the automotive industry. On July 10, 2014, equity research firm Bleecker
Street Research published an article asserting that the Company's
reported income to Chinese authorities was much smaller than the income
reported to the U.S. Securities and Exchange Commission (the "SEC (News - Alert)") for
the period of 2008-2010. The report also discloses that China XD's CFO,
Taylor Zhang, was formerly the CFO of Advanced Battery Technologies, a
now defunct company. Mr. Zhang was also an Executive Vice President of
China Natural Gas, a Chinese company accused of fraud by the SEC. As a
result of this news, the Company's share price has fallen more than 15%
so far today on heavy volume. Yesterday, the Company closed at $7.65 per
share. The Bleecker Street report can be found here: http://seekingalpha.com/article/2307195-china-xd-plastics-when-the-numbers-dont-add-up-theres-over-80-percent-downside
Given this information, Andrews & Springer LLC is preparing a class
action lawsuit as a result. If you own shares of China XD and want to
receive additional information and protect your investments free of
charge, please visit us at http://www.andrewsspringer.com/cases-investigations/cxdc
or contact Craig J. Springer, Esq. at firstname.lastname@example.org,
or call toll free at 1-800-423-6013. You may also follow us on LinkedIn (News - Alert)
Twitter (News - Alert) - www.twitter.com/AndrewsSpringer
or Facebook (News - Alert) - www.facebook.com/AndrewsSpringer
for future updates.
Andrews & Springer is a boutique securities class action law firm
representing shareholders nationwide who are victims of securities
fraud, breaches of fiduciary duty or corporate misconduct. Having
formerly defended some of the largest financial institutions in the
world, our founding members use their valuable knowledge, experience,
and superior skill for the sole purpose of achieving positive results
for investors. These traits are the hallmarks of our
innovative approach to each case our Firm decides to prosecute. For
more information please visit our website at www.andrewsspringer.com.
This notice may constitute Attorney Advertising.
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