INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Nova Lifestyle, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
LOS ANGELES--(BUSINESS WIRE)--Dec 21, 2018--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Nova Lifestyle, Inc. (“Nova Lifestyle” or “the Company”) (NASDAQ: NVFY ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Andri Capital published an article on December 21, 2018 detailing its research on Nova Lifestyle. According to the article, the Company “booked sales of over $50 million in recent years to two companies that either have been dissolved or do not exist.” The report showed additional evidence of false sales at Nova Lifestyle, stating: “other supposedly large customers of [Nova Lifestyle] do not seem to recognize doing business with Nova Lifestyle (possibly for over $60 million since 2011).” Based on this news, shares of Nova Lifestyle fell more than 32% the same day.
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We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181221005618/en/
CONTACT: The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Schall Law Firm
Copyright Business Wire 2018.
PUB: 12/21/2018 09:26 PM/DISC: 12/21/2018 09:26 PM