Law Firm Investigating Nam Tai Stock Fluctuations PDF Print E-mail
Written by Mike Buetow   
Wednesday, 08 May 2013 09:37

SAN DIEGO -- A private investigation is underway on behalf of investors in Nam Tai Electronics over potential securities laws violations by the contract assembler and some of its directors and officers.

The investigation focuses on possible claims on behalf of purchasers of Nam Tai's securities and questions whether a series of statements by the company regarding its business, prospects and operations were materially false and misleading at the time they were made.

Nam Tai reported that its annual revenue rose from $408.14 million in 2009 to over $1.14 billion in 2012 and that its net income increased from $1.65 million to $66.92 million. During that time, share prices in the company from $3.15 per share in March 2009 to $15.93 in December 2012.

Shares of the company plunged from $12.42 per share on April 25, to $7.50 per share on April 29, when Nam Tai announced its unaudited results for the first quarter ended March 31.

The investigation is being conducted by a private law firm.


 

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