News for 'FEED' - (The Colorado Law Firm of Dyer & Berens LLP Announces Its Investigation of AgFeed Industries, Inc. (FEED))
DENVER, Sep 30, 2011 (BUSINESS WIRE) -- The Colorado law firm of Dyer & Berens
LLP (www.DyerBerens.com) announced today that it has initiated its own
investigation conce! rning losses suffered by certain AgFeed Industries, Inc.
(NASDAQ: FEED) investors. AgFeed is engaged in the animal nutrition and
commercial hog producing businesses in China and maintains its principal place
of business in Colorado.
On August 2, 2011, AgFeed announced disappointing financial results for the
second quarter of fiscal year 2011 that showed the company was performing well
below expectations. According to the company's press release, AgFeed incurred a
$17 million net loss for the quarter related to huge accounts receivable
expenses in China and other bad debt expenses. Then, on September 29, 2011, the
company announced that its Board had "established a special committee to
investigate the accounting relating to certain of the Company's Chinese farm
assets (acquired during 2007 and 2008) used in its hog production business, as
well as the validity and collectability of certain of the Company's accounts
receivables relati! ng to its animal nutrition business in China and any other
issues t hat may arise during the course of the investigation." In response to
these announcements, the company's share price plummeted.
If you are an AgFeed investor who recently experienced losses on your
investment, or if you have information relevant to the investigation you, may
contact Jeffrey A. Berens, Esq. at (303) 861-1764, ext. 302 or via email at
jeff@dyerberens.com.
The law firm of Dyer & Berens LLP focuses on complex litigation on behalf of
injured investors throughout the nation. For more information about the firm,
please go to www.DyerBerens.com.
SOURCE: Dyer & Berens LLP
CONTACT:
Dyer & Berens LLP
Jeffrey A. Berens, Esq., 303-861-1764 or 888-300-3362 ext. 302
jeff@dyerberens.com
www.dyerberens.com
Copyright Business Wire 2011
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KEYWORD: ! United States
North America
Colorado
INDUSTRY KEYWORD: Professional Services
Legal
SUBJECT CODE: Lawsuit
AI
