Securities attorneys have reportedly filed a class action complaint against Longwei Petroleum Investment Holdings (NYSE: LPH) (“Longwei”). As previously noted here, Longwei shares were pummeled after reports raising concerns about Longwei’s financial condition and business performance.
The class action lawsuit was filed by securities attorneys in the Southern District of New York. Case No. 12-cv-00229. The class period alleged covers investors who purchased Longwei common stock between May 17, 2010 and January 3, 2013, and sustained investment losses. Investors seeking to serve as lead plaintiff must file their applications with the court by March 5, 2013.