Survey of Poly-Mei excellent products office increased to 5

Absrtact: December 15 News, following 3 U.S. law firms together to announce the investigation of the potential financial fraud problems, and two law firms Faruqifaruqi and Robbins Geller Rudmandowd together a lively, in five law firms, two have been to the law

December 15 News, following 3 U.S. law firms together to announce the investigation of the potential financial fraud problems, and two law firms--faruqi&faruqi and Robbins Geller rudman&dowd--"Gather up the lively", Of the five law firms, two have filed petitions before the courts.

Faruqi&faruqi, who claims to be a "securities law firm", in a statement in Beijing in Saturday, encouraged shareholders who had lost more than 100,000 dollars to contact Faruqi&faruqi after investing in a US-American product.

Faruqi&faruqi said it was investigating whether the company and its executives had violated US securities laws by issuing false and misleading statements, or by not releasing real business and operating information.

Another law firm, Robbins Geller Rudman&dowd, also said in a statement in Saturday that investors who had been buying poly-Mei stocks from May 16 to November 19 had filed a "class action" petition against the United States in the Southern Court of New York.

In addition to the above two companies, December 11, announced the investigation of Poly-Mei Products, said Rosen in Saturday issued a statement, announced on behalf of the May 16 to November 20, the company's shareholders to the United States to the Court has submitted a "class action" petition against the United States.

In his complaint, Rosen accuses the company of having issued false and misleading statements, or failing to release real business and operating information, in violation of U.S. securities laws, and the specific violations are: "Poly-Mei Excellent products are the revenue model from the Electric Business Platform service model to the sales model of proprietary goods (from marketplace Services to merchandise sales); The transformation of the revenue model is a great risk for the excellent performance of Poly-Mei products. Poly-Beauty products did not fulfill the previous statement of the change, that is not to expand the platform services business.

Rosen said that when the above is not good for the stock price of the business changes to be known, Poly-Mei excellent product share price plummeted, resulting in huge losses to investors.

So far, five U.S. law firms have publicly announced investigations into the potential financial fraud of the United States, the two have filed a "class action" petition to the court. In addition to the above three, the other two announced the investigation of Poly-Mei excellent products are law firms Glancy Binkow&goldberg and Johnson&weaver.

For the reasons for the survey, several companies in the statement said that Poly-Mei products in the third quarter of this year GMV (merchant gross turnover) growth rate of a record low, the recent continued decline in stock prices below the IPO price.

The shares fell 0.07% to $13.5 in Friday. Poly Beauty products listed in the United States this May 6, the issue price of 22 U.S. dollars.