RINO International Corporation

Company Name
RINO International Corporation
Stock Symbol
RINO
Class Period
March 31, 2009 to November 17, 2010
Court
Central District of California
Status
Settled

This action is brought on behalf of all purchasers of the common stock of RINO International Corporation during the period March 31, 2009 through November 17, 2010, inclusive (the “Class Period”). The Complaint charges the Company and certain of its executive officers with violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and S.E.C. Rule 10b-5. The Complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose: (1) that certain customers did not purchase flue gas desulfurization (“FGD”) systems as the Company had previously claimed; (2) that the Company’s financial results reported to China’s State Administration of Industry and Commerce were substantially less than the financial results the Company reported to the public and contained in the financial statements RINO filed with the SEC; (3) that the Company lacked adequate internal and financial controls; and (4), as a result of the foregoing, that the Company’s financial results were materially false and misleading at all relevant times.