Duoyuan Printing, Inc. - Securities Class Action

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Duoyuan Printing, Inc. Summary: According to the press release dated on September 20, 2010, the complaint alleges that throughout the Class Period, defendants made false and/or misleading statements, where they failed to disclose (1) that the authenticity of certain of the Company's expenses related to advertising and tradeshow costs could not be verified; (2) that the Company had improper relationships with certain vendors and distributors; (3) that, as a result, the Company's financial results were misstated during the Class Period; (4) that the Company lacked adequate internal and financial controls; and (5) that, as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.

On September 13, 2010, Duoyuan Printing disclosed that the Company dismissed its independent registered public accounting firm, Deloitte Touche Tohmatsu CPA Ltd., and was reorganizing its top management in connection with Duoyuan Printing's "desire to resolve open issues and file our 10-K on a timely basis." Moreover, the Company's Chief Executive Officer, Chief Financial Officer and four members of the Company's Board of Directors resigned after the dismissal of Deloitte. As a result of the revelations, Duoyuan Printing securities declined $3.60 or more than 54% and closed at $2.99 on September 13, 2010.

On January 14, 2011, the case was reassigned from Judge Colleen McMahon to Judge George B. Daniels.

According to the Stipulation for Order, entered on January 19, 2011, it is hereby stipulated and agreed, subject to the Court's approval, as follows: 1. Scott P. Cole, Joseph E. Sciarro, and Richard Pearson are appointed Co-Lead Plaintiffs for the above-captioned action and any subsequently filed consolidated actions, pursuant to 15 V.S.c. § 78u-4(a)(3)(B) and 15 U.S.C. §77z-1 (a)(3)(B); and 2. Cole, Sciarro and Pearson's selections of Pomerantz Haudek Grossman & Gross LLP and The Rosen Law Firm, P.A. are hereby approved as Co-Lead Counsel.

INDUSTRY CLASSIFICATION:
SIC Code: 3555
Sector: Capital Goods
Industry: Misc. Capital Goods

COMPANY/ISSUER NAME:	Duoyuan Printing, Inc.
COMPANY/ISSUER TICKER:	DYP
COMPANY WEBSITE:	http://www.duoyuan.com/

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Jeff Perry, et al. v. Duoyuan Printing, Inc., et al.

COURT: S.D. New York	DOCKET NUMBER: 10-CV-07235
JUDGE NAME: Hon. Colleen McMahon
DATE FILED: 09/20/2010	SOURCE:
CLASS PERIOD START: 11/06/2009	CLASS PERIOD END: 09/13/2010
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Pomerantz Haudek Block Grossman & Gross LLP (New York) 100 Park Avenue, 26th Floor, New York, NY, 10017-5516 (voice) 212.661.1100, (fax) 212.661.8665, info@pomerantzlaw.com/ _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Stipulation for Order Appointing Lead Plaintiffs and Appointing Co-Lead Counsel
Type: Other		Date on the document: 01/19/2011
U.S. District Court Civil Docket
Type: Docket		Date on the document: 11/17/2011
Consolidated Complaint for Violations of the Federal Securities Laws
Type: Complaint		Date on the document: 02/16/2012

OTHER DOCUMENTS

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

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