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Law Offices of Howard G. Smith, Representing Investors of RINO International Corporation, Announces Class Action Lawsuit

^{Published on 2010-11-18 10:45:38 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith, representing investors of RINO International Corporation (aRINOa or the aCompanya) (Nasdaq:RINO), has filed a class action lawsuit in United States District Court on behalf of a class (the aClassa) consisting of all persons or entities who purchased the securities of RINO between November 13, 2009, and November 11, 2010, inclusive (the aClass Perioda). The class action lawsuit was filed in the United States District Court for the Central District of California. RINO operates as an environmental protection and remediation company in the Peoplea™s Republic of China, engaging in designing, manufacturing, installing and servicing wastewater treatment and flue gas desulfurization equipment, primarily for use in the iron and steel industry, and anti-oxidation products and equipment for use in the manufacture of hot rolled steel plate products.

The Complaint charges the Company and certain of its executive officers with violations of federal securities laws. Specifically, the Complaint alleges that throughout the Class Period defendants issued materially false and misleading statements concerning RINOa™s business, operations and prospects and/or failed to disclose: (1) that certain customers did not purchase flue gas desulfurization (aFGDa) systems as the Company had previously claimed; (2) that the Companya™s financial results reported to Chinaa™s State Administration of Industry and Commerce were substantially less than the financial results the Company reported to the public and contained in the financial statements RINO filed with the SEC; (3) that the Company lacked adequate internal and financial controls; and (4), as a result of the foregoing, that the Companya™s financial results were materially false and misleading at all relevant times.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased RINO securities between November 13, 2009 and November 11, 2010, you have certain rights, and have 60 days from November 15, 2010, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to [ howardsmith@howardsmithlaw.com ] or visit our website at [ http://www.howardsmithlaw.com ].