China Natural Gas Inc. - Securities Class Action

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Stanford Law School

China Natural Gas Inc. Summary: According to the complaint filed on August 26, 2010, the Company did not disclose and did not properly account for the Bank Loan in its March 2010 Form 10-Q. Defendants disseminated or approved these and other materially false and misleading statements, which they knew or recklessly disregarded were misleading in that they contained misrepresentations and failed to disclose material facts necessary to make the statements made, in light of the circumstances under which they were made, not misleading.

According to the Company's FORM 10-Q for the quarterly period ended June 30, 2011, on August 26, 2010, plaintiff Maxwell Vandevelde filed a putative class action against the Company and certain of its officers and directors. The complaint alleges that defendants violated U.S. federal securities laws for failing to disclose material facts regarding its financial well-being. The suit seeks unspecified monetary damages. On June 29, 2011, after reviewing the competing motions filed by Richard Crippa (“Crippa”) and Robert Skeway (“Skeway”) for appointment as lead plaintiff and approval of selection of lead counsel, United States District Court for the District of Delaware denied without prejudice both motions and ordered Crippa and Skeway to submit supplemental briefs on or before July 12, 2011.

On August 12, 2011, Judge Sue L. Robinson granted Robert Skeway's motion to appoint lead plaintiff and approve lead plaintiff's selection of counsel. An Amended Complaint was filed on October 11, 2011. The defendants responded by filing a motion to dismiss on December 12, 2011.

INDUSTRY CLASSIFICATION:
SIC Code: 4923
Sector: Utilities
Industry: Natural Gas Utilities

COMPANY/ISSUER NAME:	China Natural Gas Inc.
COMPANY/ISSUER TICKER:	CHNG
COMPANY WEBSITE:	http://www.naturalgaschina.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Maxwell Vandevelde, et al. v. China Natural Gas Inc., et al.

COURT: D. Delaware	DOCKET NUMBER: 10-CV-00728
JUDGE NAME: Hon. Sue L. Robinson
DATE FILED: 08/26/2010	SOURCE:
CLASS PERIOD START: 03/10/2010	CLASS PERIOD END: 08/19/2010
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Rosenthal, Monhait, Gross & Goddess, P.A. Suite 1401, Mellon Bank Center, PO Box 1070, Wilmington, DE, 19899-0170 (voice) 302.656.4433, (fax) (302) 658-7567, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint for Violation of The Federal Securities Laws
Type: Docket		Date on the document: 08/26/2010
Motion Of Robert Skeway To Appoint Lead Plaintiff And Approve Lead Plaintiff's Selection Of Counsel
Type: Motion		Date on the document: 10/25/2010
Memorandum Opinion
Type: Memorandum		Date on the document: 08/12/2011
Order
Type: Order Appointing LP/LC		Date on the document: 08/12/2011

REFERENCE COMPLAINT

Robert Skeway And Raimundo Jofung, et al. v. China Natural Gas Inc., et al.

COURT: D. Delaware	DOCKET NUMBER: 10-CV-00728
JUDGE NAME:
DATE FILED: 10/11/2011	SOURCE:
CLASS PERIOD START: 03/10/2010	CLASS PERIOD END: 09/21/2011
TYPE OF COMPLAINT: First Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
The Rosen Law Firm P.A. (New York) 275 Madison Avenue, 34th Floor, New York, NY, 10016 (voice) (212) 686-1060, (fax) (212) 202-3827, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE REFERENCE COMPLAINT
Amended Class Action Complaint for Violations of the Federal Securities Laws
Type: Complaint		Date on the document: 10/11/2011
Certificate of Service
Type: Other		Date on the document: 10/11/2011
U.S. District Court Civil Docket
Type: Declaration		Date on the document: 10/18/2011

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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