Rosen Law Firm Files Class Action Against China Sky One Medical, Inc. - CSKI

NEW YORK, March 24, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. today announced that it has filed a class action lawsuit on behalf of investors who purchased the securities of China Sky One Medical, Inc. ("China Sky One" or the "Company) CSKI securities between April 16, 2009 and February 14, 2012, inclusive (the "Class Period").

To join the China Sky One class action and recover your investment losses, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action. The action filed by the Rosen Law Firm is pending in the U.S. District Court for the Central District of California.

The Complaint asserts violations of the federal securities laws against China Sky One and its officers and directors for issuing false and misleading information to investors about the Company's financial and business condition. Specifically, the Complaint alleges: (1) the Company overstated earnings; (2) the Company's gross margins were inflated; and (3) the Company lacked adequate internal and financial controls.

The Complaint alleges that when the market learned of the alleged fraud, the price of China Sky One stock dropped, causing investors losses.

You can join the class action and seek to recover your losses.

If you wish to serve as lead plaintiff, you must move the Court no later than April 24, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.