Razim Al Hamed
14/07/13 12:46
Ha respondido al tema Tibet Pharma
Ir a respuesta
Blog con actualizaciones de la demanda.
http://tibetpharma.blogspot.com.es/2012/11/tibet-pharmacuetical-inc-class-action.html
July 4, 2013
ROSEN is expected to respond to the motions to dismiss filed by the Defendants on or before August 1, 2013 upon which the Defendants would have 7 days to respond after which the Judge would issue a decision.
After reviewing the motions filed by the defendants on June 17, I found this particular statement in the affidavit filed by Hayden Zou quite outrageous and incredible:
Hayden Zou said: “I never had any influence over matters submitted to Tibet's Board of Directors because, to my knowledge, 'Tibet never held any Board meetings”.
By saying that TIBET never held a board meeting for the whole time it raised the IPO Money till it was delisted, Hayden Zou is therefore suggesting that:
The Board of Directors never met to perform their Fiduciary Responsibilities and Corporate governance roles for the entire time TIBET was issuing statements to the SEC and the general investing public.
The Board of Directors never met to review the quarterly reports and financial statements.
The Board of Directors never met to review the fictitious Buy Out offer that the Criminal CEO Mr. Yu Hong claimed the Board of Directors had received.
The Board of Directors never met to investigate the Auction that the CEO claimed would be investigated.
The Board of Directors never met to review the final IPO prospectus or discuss how to utilize the IPO proceeds.
The Board of Directors members in the Audit Committee never held a meeting with the Auditors of the Company.
This statement by Hayden Zou basically proves that the defendants acted in bad faith and were intentionally reckless & negligent, consistent with their reckless & negligent actions that resulted in false and misleading information to be included in the IPO prospectus, thereby preventing them from discovering the fraud. How can the Board of Directors and Board Observers of TIBET not held a single meeting for the whole time TIBET was issuing news and financial statements to the USA SEC? This is incredible and the Judge & Jury MUST hear this!!!