Orchid Pavilion is responding to a class action lawsuit today

Summary: Check the latest quotes Beijing time August 28 Evening News, Orchid Pavilion set potential (NYSE:LITB) said today, has been aware of the U.S. law firm Federman Sherwood to the company launched a class action. Federman Sherwood said in Tuesday that the United States in southern New York

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Beijing time August 28 Evening News, Orchid Pavilion set potential (NYSE:LITB) said today, has been aware of the U.S. law firm Federman & Sherwood to launch a group action against the company.

Federman & Sherwood said in Tuesday that it had filed a class action against the pavilion in the U.S. District Court in the south of New York, accusing the Orchid pavilion of violating the U.S. Securities Act of 1934, such as market-oriented publishing of a series of materials or false statements, so that in the collective litigation period ( From June 6, 2013 to August 19, 2013, the impact of artificially inflated market prices was created.

The pavilion said today that the allegations had been evaluated and that they were unfounded. In this respect, the pavilion will be with the company legal Counsel Simpson Thacher & Bartlett LLP Strong defense of their own interests.