IT Tech Packaging Inc (ITP)

[10atious]

Hey Joev2,

I just received this from the CFO of ONP. I wrote and told them they need to bring legal action against Muddy Waters. Here's his response:



We have one shareholder class action lawsuit, which was filed in August 2010 by 3 individual investors with a total loss of about $150,000. We filed a motion to dismiss with the court and is waiting for the judge to hear the case.



Unfortunately, because of the pending class action lawsuit, our attorneys strongly advise that we do not to consider legal action against Muddy Waters until after the class action is dismissed. We will keep the public updated with the development of the legal matters. It’d be inappropriate for me to discuss the legal strategy publicly at this time.



We feel for your pain and thank you for your continued support for Orient Paper Inc. We are still working on something to fight the abuses by Muddy Waters. We will keep the investors updated.



Regards,


Winston Yen, CPA
CFO
Orient Paper, Inc.
AMEX: ONP