China Valves Technology, Inc.

Lead Plaintiff Deadline: 04/05/11

Date filed:

Class period:

Court:

NASDAQ:

(NASDAQ: CVVT)

Date Filed: February 04, 2011

Class Period: January 12, 2010 – January 13, 2011

Court: Southern District of New York

On February 04, 2011, a securities class action complaint was filed in the United States District Court for the Southern District of New York against China Valves Technology, Inc. (“China Valves” or the “Company”) and certain of its executive officers, alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, during the alleged class period January 12, 2010 through January 13, 2011.

China Valves, based in Kaifeng City, the People’s Republic of China, is engaged in the development, manufacture, and sale of metal valves to customers in the electricity, petroleum, chemical, water, gas, nuclear power station, and metal industries throughout China. As alleged in the complaint, defendants made false and misleading statements related to their acquisition of Able Delight (Changsha) Valve Company, Ltd. (“Changsha Valve”) and Shanghai Pudong Hanwei Valve Co., Ltd. (“Hanwei Valve”).

On January 13, 2011, Citron Research published a report that China Valves concealed that both of these acquisitions involved payments to entities or persons that are related to management at China Valves. These payments violate Generally Accepted Accounting Principles and U.S. Securities and Exchange Commission regulations. In addition, China Valves allegedly overstated the business prospects and financial condition of Changsha Valve and Hanwei Valve.

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