NEW YORK, Jan. 30, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm announced that on January 28, 2013, China Central Television ("CCTV"), the predominant state-owned television network in the PRC, produced two news segments corroborating GeoInvesting's report that Longwei Petroleum Investment Holding Limited (NYSE:LPH) has been misrepresenting its true financial and business condition.
CCTV confirmed that Longwei's facilities have long been idle, and that its largest subsidiary reported revenue to Chinese tax authorities that is only a tiny fraction of the revenue Longwei reported to the SEC. The CCTV segments are available at: http://news.cntv.cn/2013/01/28/VIDE1359383612262518.shtml, and http://news.cntv.cn/2013/01/28/VIDE1359383582111295.shtml.
The Rosen Law Firm filed the first class action lawsuit against Longwei to recover investors' losses.
If you suffered a loss in Longwei stock, visit the website at http://rosenlegal.com to join the class action.
If you wish to serve as lead plaintiff, you must move the Court no later than March 5, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You may contact Phillip Kim, Esq. or Jonathan Horne, Esq., toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com for more information.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. Jonathan Horne, Esq. The Rosen Law Firm P.A. 275 Madison Avenue 34th Floor New York, New York 10016 Tel: (212) 686-1060 Weekends Tel: (917) 562-8616 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 firstname.lastname@example.org email@example.com firstname.lastname@example.org www.rosenlegal.comSource: The Rosen Law Firm PA PC