Investigation Overview
An investigation on behalf of investors of ANTA Sports Products Limited (OTC: ANPDF) shares over potential securities laws violations by ANTA Sports Products Limited and certain of its directors and officers in connection with certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of ANTA Sports Products Limited (OTC: ANPDF) concerning whether a series of statements by ANTA Sports Products Limited regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based ANTA Sports Products Limited designs, researches, develops, manufactures, markets, trades in, and retails sporting footwear, apparel, and accessories in the People's Republic of China. ANTA Sports Products Limited reported that its annual Total Revenue rose from over $11.12 billion in 2015 to over $13.34 billion in 2016 and that its respective Net Income increased from over $2.04 billion in 2015 to over $2.38 billion in 2016.
Shares of ANTA Sports Products Limited (ANPDF) grew from $1.90 per share in July 2016 to as high as $5.80 per share in April 2018.
On June 12, 2018, a report was issued stating that ANTA's operating margins were sufficiently high. The report suspected the Company of engaging in questionable accounting practices.