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If you are a current long term stockholder of shares of China Armco Metals, Inc (NYSEAMEX:CNAM), you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
Mar. 13, 2013 (Shareholders Foundation) -- An investigation on behalf of investors in shares of China Armco Metals, Inc (NYSEAMEX:CNAM) was announced concerning whether certain China Armco Metals officers and directors possibly breached their fiduciary duties in connection with certain statements.
The investigation by a law firm concerns whether certain China Armco Metals officers and directors breached their fiduciary duties and caused damage to the company. and its shareholders by failing to implement adequate internal controls.
China Armco Metals, Inc (NYSEAMEX:CNAM reported that its annual Total Revenue increased from $68.79 million in 2010 to $106.22 million in 2011, while tis Net Loss rose from $2.23 million in 2010 to $3.35 million in 2011.
Shares of China Armco Metals, Inc (NYSEAMEX:CNAM) declined from as high as $3.943 per share in January 2011 to as low as $0.285 in August 2012.
On March 12, 2013, NYSEAMEX:CNAM shares closed at $0.35 per share.
The company commented on March 13, 2013 on the investigation by the law firm and said it disagrees with the content of a letter sent from the law firm to the company.
