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If you purchased shares of Subaye Inc (NASDAQ: SBAY), and/or if you have any information relating the investigation, 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
After trading of Subaye Inc halted an investigation on behalf of investors of Subaye Inc NASDAQ:SBAY) over possible violations of Federal Securities Laws was announced.
The investigation by a law firm focuses on potential securities claims against Subaye, Inc. (NASDAQ: SBAY) resulting from allegations that the Company may have issued materially false financial statements and information to investors.
Subayes 12months Total Revenue increased from $21.55million to lately $39.14million.
Shares of Subaye Inc (Public, NASDAQ:SBAY) traded during April 2010 over $16 per share and in January 2011 as high as $14.62 per share.
On April 7, 2011 Subaye Inc disclosed more details concerning the resignation of Subayes auditor, PricewaterhouseCoopers Hong Kong . PricewaterhouseCoopers Hong Kong identified matters that may materially impact the fairness or reliability of Subaye's quarterly financial information for the three months ended December 31, 2010 and may cause PwC to be unwilling to rely on managements' representations.
On April 8, 2011 the NASDAQ Stock Market announced that trading was halted in Subaye Inc. (Nasdaq:SBAY) for 'additional information requested' from the company at a last sale price of $2.15.
