Longwei Petroleum (fka LPIH)

[Flygy481]

Any life here?

[Watcher31]

Anything ??

[tbirdman]

LPH will rise again

[honestengine_rh]

This was posted 3 days ago on Nov 29, 2020.

https://accountant-cpa.com/made-money-on-a-china-ipo-be-careful-about-what-happens-next/

[Flygy481]

Anyone receive their checks from the settlement yet??

[Flygy481]

Any news?

[honestengine_rh]

Do you have a facebook account? I have no problem accessing it. I copied their post from FB.

[Flygy481]

That link has nothing attached to it

[honestengine_rh]

They last posted on Nov 10, 2019. Maybe this is our year.

LONGWEI PETROLEUM INVESTMENT HOLDING LIMITED · No. 30 Dajingyu Street, Xiaojingyu,…
LONGWEI PETROLEUM INVESTMENT HOLDING LIMITED (Entity# 20001056132) is a business entity registered with…
opengovco.com
Nov 10, 2019

https://www.facebook.com/search/top/?q=longwei%20petroleum

[Watcher31]

Any news or info ?

[Flygy481]

Never received a check. Prolly didn’t fill out the forms, still have my shares

[honestengine_rh]

Note that the company is still a CO corporation that is delinquent in their filing. There is no time limit and is easy to remedy.

https://www.sos.state.co.us/biz/BusinessEntityDetail.do?quitButtonDestination=BusinessEntityResults&nameTyp=ENT&masterFileId=20001056132&entityId2=20001056132&fileId=20071470715&srchTyp=ENTITY

The judge in Denver wanted to dissolve the company as it was sued by a clueless shareholder. In order to do that, the SEC had to revoke their securities but they decided against that, so the company is still active.

Some of you received a second check that was a part of the shareholder suit and is not related to the Denver suit. The judge in his wisdom was holding that in a contingency fund and released it after the SEC decided to not revoke their securities.

Patience.

[honestengine_rh]

Rest assured that you are sitting on a goldmine. Chinese are the most patient people on the planet and Longwei will reappear when they are good and ready.

Consider that the SEC now knows that they were duped by a fraudster passing himself as a 'whistleblower' and that there are still millions of naked short shares - via pre-relaeased ADRs - outstanding that the SEC needs to clean up.

Keep up on their FB page:

https://www.facebook.com/search/top/?q=longwei%20petroleum

Here is Unemon's post from their FB page that is no longer available. Looks like they are trying to cleaning up the mess.

LongWei Petroleum - Overstating its inventories. - Free Download PDF Ebook

[Watcher31]

Anyone know anything ?

[mbh321]

Has anyone heard any news on LPIH? Seriously, ANYthing.. I still have over 1300 shares and I'm sure others do too. This board has been quiet for a while. Appreciate any insight someone might have on the court proceedings/rulings, thx

[Flygy481]

????

[honestengine_rh]

The SEC has been contacted and they are working on Longwei. There are a bunch of ADR pre-release lawsuits going on, which is what happened to Longwei. This caused inappropriate short selling - phantom shares that were in effect naked shares. Google “adr pre release sec” and you will see a bunch of current cases. Here is one of them:

https://www.sec.gov/news/press-release/2018-255

Also, Longwei settled with Geo per the lawsuit below (page 21, paragraph 83). They are probably going after Fatty Boy now.

https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=FcrnNlWrNExp_PLUS_7kZDE6AhQ==

Plus, the SEC had their first short-and-distort case recently with Ligand.

https://www.sec.gov/news/press-release/2018-190

I think we should get some news from the SEC within a few months. They might be going after Fatty Boy too since he was acting as a whistleblower for the SEC. They frown upon that. The new SEC chief is going after Main St fraud and I am confident that we will be rewarded in the end.

[chiefs11]

I personally think the company is doing fine in China, and I did receive some money back during the class action suit. so I invested $800 at a penny a share hoping that I would get lucky and receive more money if they were to Be re listed as LPH but it didn't work out, no big deal was kind of hoping that..." honestengine_rh".. was right and we would receive something

[Flygy481]

There’s nothing left here, give it up

[chiefs11]

Has anyone tried to reach lpih and find out if theyre going to reward our loyalty

[chiefs11]

Revoked..... Now we'll find out if I was right, when I was afraid that if they decided to go private that they don't have to pay us. or even just a penny a share maybe we'll get lucky and they'll give us a dollar a share. but I think we just got but fukkked

[TenKay]

The return of a revoked stock to active trading in the OTC is an exceedingly rare thing.

[Flygy481]

Thanks for the reply. The most non biased, level headed response yet.

What do YOU think going forward? I personally think there’s no company and it’s a scam. But, fingers are crossed. I guess I’ll hold it until my broker forcefully takes it off of my screen

[TenKay]

You have to ask the company. But as a private company they do not have any reporting or disclosure requirements...and have no obligation to communicate with anyone. And whatever they do say should be taken with a grain of salt.

In general, and unfortunately in the OTC, revoked stocks eventually go dark and are never heard from again. Someday in the future your broker will want to remove the stock from your account or have you pay a maintenance fee. The could also give you the option for them to buy your entire holding for $1 so you can get the tax write-off.

But revocation in the OTC pretty much means it’s dead and done.

[Flygy481]

Private now? New stock price? Are we getting paid?

[TenKay]

The “Stay Order” applies to the OIP and was granted because the company made an offer of settlement which the SEC accepted. That offer included revocation.

It is not a mistake. Longwei Petroleum's SEC registration has been revoked. It is now a private company with no public market for the stock.

[honestengine_rh]

This is a mistake because the judge already ruled. The Secretary does not know what is going on. It will get straightened out. See below:

https://www.sec.gov/alj/aljorders/2018/ap-5643.pdf

[TenKay]

LPIH SEC REVOKED

https://www.sec.gov/litigation/admin/2018/34-83213.pdf

[chiefs11]

the june 30 is the end of year financial.....so probably end of july or first half of august.

[honestengine_rh]

According to page 21 of Eros' lawsuit, Geo settled with Longwei:

83. Since 2011, GeoInvesting has been named as a defendant in at least two
defamation suits accusing it of publishing false statements as part of short and distort schemes.
See Sino Clean Energy Inc. v. Alfred Little, et al., No. 651248/2011 (Sup. Ct., N.Y. Cty. 2011);
Longwei Petroleum Investment Holding Limited v. GeoInvesting LLC, No. 2:13-cv-01442 (E.D.
Pa. 2013). On information and belief, GeoInvesting paid to settle both lawsuits confidentially.

https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=FcrnNlWrNExp_PLUS_7kZDE6AhQ==

[honestengine_rh]

My guess is after the June 30 audit.

Eros got a lawyer from Kasowitz, who was Trump's lawyer for a while. You can click on and follow the case (see second paragraph below).

"The Company previously announced that it retained Michael J. Bowe, a partner of Kasowitz Benson Torres LLP, to investigate and pursue all available legal remedies against those responsible for these blatant attempts at market manipulation. Counsel is continuing its investigation. Anyone with information about those responsible for the dissemination of this disinformation can submit that information confidentially at [phone]."

"The case is 653096/2017 at the New York County Supreme Court. The complaint (pdf) is 115 pages long. First, I’ll start with the defendants, some of whom are well-respected short sellers. I have grouped the defendants below according to firm and employee/employer relationships."

https://www.goodetrades.com/2017/10/eros-international-plc-eros-sues-large-number-of-short-sellers/

[chiefs11]

If all the class action suits against longwei petroleum are settled and done with. Any thoughts on when we might hear news from the company and start to move upwards in price.

[honestengine_rh]

It looks like the SDNY is getting wise. The shareholder lawsuit against Eros was dismissed, meaning they did not believe the short-sellers. They may have learned something from Longwei's case.

"Eros International Plc (EROS) (“Eros”), a leading global company in the Indian film entertainment industry, today announced that the United States District Court for the Southern District of New York has dismissed, with prejudice, the putative securities class action that was originally filed in November 2015 against Eros and certain of its officers and directors."

https://finance.yahoo.com/news/eros-international-plc-announces-dismissal-134500387.html

[honestengine_rh]

Yes. Here is another lawsuit for Geo from 10/3/17. These clowns are skating on thin ice.

https://economictimes.indiatimes.com/industry/media/entertainment/eros-international-sues-investors-over-market-manipulation/articleshow/60927685.cms

[chiefs11]

So I should disregard the card I received in the mail yesterday talking about the $100000. if I owned shares as of that particular date on the card. my next question would be what if I sold them on that date after the market opened but I still owned them in the morning but not when the market closed I wonder if I'm still eligible.

[chiefs11]

That's good...i guess, either trade the darn thing or buy me out....I'll take $3/share and retire if they'd give it to me tomorrow....tired of waiting

[honestengine_rh]

The Denver judge requested that the stock be revoked because financial statements were not being filed, so that the company could be dissolved. The SEC found that there is no reporting requirement so they did not revoke the securities. That means the company cannot be dissolved; it remains a public company and will not go private.

[chiefs11]

Where did this come from. What does it have to do with anything.

[surfer44]

Still in play. Thanks for the info.

[honestengine_rh]

Longwei got their 'stay' from filing financial statements that they were not required to file in the first place as a delisted company. The Denver judge apparently thought that they traded on the NYSE. Maybe soon.

https://www.sec.gov/alj/aljorders/2018/ap-5643.pdf

[honestengine_rh]

This is will force Longwei to either appeal, re-incorporate or go private. The value of the company and the stake that each shareholder has will not change. Currently, the book value is about $8 a share. Their near billion dollars in assets in China cannot be touched by Americans.

Remember, Harbin Electric went private at $24 a share. If it comes to that, we would also be paid a fair price.

https://www.reuters.com/article/usa-china-harbin/short-seller-target-harbin-electric-goes-private-idUSN1E79S08X20111029

BTW, I notice that there are no more short transactions. The new chief at the SEC might be cracking down on the riff-raff.

All shareholders should write a letter to Longwei with a copy of the notice in case they are not aware. Their address is:

No. 30 Dajingyu Street, Xiaojingyu Xiang, Wan Bailin District, Taiyuan City,
Shanxi Province, China 030024

[joev2]

I guess those frightened shorts were right all along. Toups should be in jail...

[The Swede]

https://finance.yahoo.com/news/court-orders-dissolution-longwei-petroleum-205622137.html

[Watcher31]

I do not have a working number for the company.
I can call if i get one...

[chiefs11]

It would be nice to hear something...don't you live in china? Can you call the company.

[Watcher31]

any current info on the companies status today, not the legal issues but is it currently doing biz?

[chiefs11]

Got it, thank you .

[honestengine_rh]

Look above Marian Filo's post and below Longwei Petroleum's Posts. The link is in light letters. That was done recently.

https://www.facebook.com/search/top/?q=longwei%20petroleum

[chiefs11]

Sorry, i don't see it

[honestengine_rh]

Look for this at the bottom of the page:

"Dismissal Without Prejudice" Allowing Longwei to File Defamation Lawsuit Again

They took a friend's post and added what they wanted.