China Integrated Energy, Inc. Faces Investor Investigation Over Possible Securities Laws Violations

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Company Name(s): 
China Integrated Energy
Affected Securities: 
NASDAQ: CBEH

Following a more than 30% stock drop over a short period has prompted an investigation on behalf of investors of China Integrated Energy, Inc. (NASDAQ:CBEH) shares concerning possible violations of Federal Securities Laws.

The investigation by a law firm focuses on potential shareholder claims against China Integrated Energy, Inc. (NASDAQ: CBEH) resulting from allegations that China Integrated Energy may have issued materially inaccurate financial statements to the investing public.
China Integrated Energy’s 12months Total Revenue went from $87.10million in 2007 to $438.68million in 2010. Its Net Income over the same time frame surged from $8.58million to $53.82million.
Shares of China Integrated Energy, Inc. (NASDAQ:CBEH) traded during 2009 as low as $5.07 and increased during 2010 to $11.74 on April 30, 2010. Since then CBEH shares lost value and traded in the first months in 2011 around $6 per share. On March 10 and March 14 news reports picked up China Integrated Energy’s fourths quarter reports along with its substantial increase in quarterly Net Income and Revenue.

Then on March 16, 2011, Sinclair Upton Research issued a report alleging that China Integrated Energy concealed numerous “fraudulent acquisitions” between China Integrated Energy and certain of its officers and directors that had the effect of funneling cash to these officers and directors. Furthermore, the report alleges that China Integrated Energy misrepresented its financial performance, including “fabricating its SEC financial statements.” Following the report shares of China Integrated Energy declined on March 17 to as low as $3.80 per share.