On Tuesday, The Rosen Law Firm P.A. issued a press release, announcing that it had commenced an investigation into allegations that Bodisen Biotech, Inc. (AMEX: BBC) violated the federal securities laws by failing to adequately disclose certain material relationships the company had with Benjamin Wey a/k/a Benjamin Wei and New York Global Group, Inc.The very next day, the law firm announced that it had apparently completed its investigation, and had filed a class action charging Bodisen with violations of the federal securities laws.
A copy of the firm's "draft complaint" can be found here.
The response by the company could of course be predicted. They fired back with a press release today, stating:
The Company, Ms. Wang and Mr. Chen intend to defend vigorously the Tabor complaint and any similar complaints that have been filed.For more on the relationship between Bodisen and Wey, readers should read articles here and here by Herb Greenberg of MarketWatch.com.
Daily Trivia: The Rosen Law Firm has their offices in the Empire State Building. Start to finish - it took only one year and 45 days to build what was at the time the tallest building in the world.
1 comment:
I appreciate Mr. Savett's recognition for the "world's speediest investigation." I would like to point out that he assumes that the investigation began the day of the first press release and concluded the day the complaint was filed. We had been following Bodisen for some time already, and of course, the investigation is ongoing.
Nonetheless, Bodisen seems like it will be an interesting case with lots of surprises!
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