San Diego, Oct. 04, 2011 (Shareholders Foundation) -- An investigation on behalf of investors in shares of SINA Corporation (USA) (NASDAQ:SINA) over possible Violations of Federal Securities Laws was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of SINA Corp. (USA) (SINA) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements regarding SINA Corporations business, its prospects and its operations were potentially materially false and misleading at the time they were made.

The investigation follows media reports that said the U.S. Department of Justice (DOJ) is assisting a U.S. Securities and Exchange Commission (SEC) probe of possible accounting irregularities among unnamed U.S.-listed Chinese firms. The investigation by a law firm for investors focuses several Chinese internet companies, including but not limited to SINA Corporation (USA).

SINA Corporation (USA) reported that its annual Revenue rose from $246.13million in 2007 to $402.62million in 2010. However, its Net Income rose from $54.12million in 07 to $411.89million in 2009 and then fell to a Net Loss of $19.09million in 2010. For the second quarter 2011 SINA Corporation (USA) reported an increased second quarter Revenue of $118.96million compared to $99.42million for the second quarter in 2010, but its second quarter Net Income fell from $25.23million last year to $9.96million this year.

Shares of SINA Corporation (USA) (Public, NASDAQ:SINA) grew from as low as $19.63 in March 2009 to as high as $134.75 per share on April 29, 2011.

Since April 2011 NASDAQ: SINA stocks fell to almost 50% of its value. In fact, NASDAQ: SINA shares fell from almost $114 in as recently as mid-September to $67.90 per share on October 3, 2011.