BALTIMORE, MD -- (Marketwire) -- 12/18/08 -- Brower Piven, A Professional Corporation
announces that a class action lawsuit has been commenced in the United
States District Court for the Southern District of New York on behalf of
purchasers of the securities of China Organic Agriculture, Inc. ("China
Organic" or the "Company") (OTCBB: CNOA) during the period between July 12,
2007 and August 14, 2008, inclusive (the "Class Period").
No class has yet been certified in the above action. Members of the Class
will be represented by the lead plaintiff and counsel chosen by the lead
plaintiff. If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff no later than February 10,
2009 and be selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether to
accept a settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in the Company during the Class
Period. You may contact Brower Piven (through hoffman@browerpiven.com or
410/986-0036) to answer any questions you may have in that regard.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the Company's failure to disclose during
the Class Period that it had no reasonable belief that the company could
develop organic rice for sale at competitive prices. According to the
complaint, insiders sold millions of dollars worth of Company stock,
acquired a luxury retreat for Company insiders and, within 18 months after
going public, sold the Company's most significant operation leaving the
Company as a shell and causing the value of China Organic Agriculture's
stock to decline significantly.
If you have suffered a net loss for all transactions in China Organic
Agriculture, Inc. securities during the Class Period (including shares or
possibly calls purchased during, but retained after, the Class Period or
possibly put options sold but not covered until after the Class Period),
you may obtain additional information about this lawsuit and your ability
to become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by calling
410-986-0036, or at Brower Piven, A Professional Corporation, The World
Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore,
Maryland 21202. Attorneys at Brower Piven have combined experience
litigating securities and class action cases of over 40 years. If you
choose to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your choice.
You need take no action at this time to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
Baltimore, Maryland
410/986-0036
Email Contact