LOS ANGELES–(BUSINESS WIRE)–The
Schall Law Firm, a national shareholder rights litigation firm,
announces that it is investigating claims on behalf of investors of Nova
Lifestyle, Inc. (“Nova Lifestyle” or “the Company”) (NASDAQ: NVFY)
for violations of §§10(b) and 20(a) of the Securities Exchange Act of
1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and
The investigation focuses on whether the Company issued false and/or
misleading statements and/or failed to disclose information pertinent to
investors. Andri Capital publish an article on December 21, 2018,
detailing its research on Nova Lifestyle. According to the article, the
Company “booked sales of over $50 million in recent years to two
companies that either have been dissolved or do not exist.” The report
showed additional evidence of false sales at Nova Lifestyle, stating:
“other supposedly large customers of [Nova Lifestyle] do not seem to
recognize doing business with Nova Lifestyle (possibly for over $60
million since 2011).” Based on this news, shares of Nova Lifestyle fell
more than 32% the same day.
If you are a shareholder who suffered a loss, click
here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of
the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA
90067, at 424-303-1964, to discuss your rights free of charge. You can
also reach us through the firm’s website at www.schallfirm.com,
or by email at [email protected].
The class in this case has not yet been certified, and until
certification occurs, you are not represented by an attorney. If you
choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder rights
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and rules of ethics.
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