Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Longwei Petroleum

  Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The
  Class Action Lawsuit Against Longwei Petroleum Investment Holding Limited

Business Wire

BENSALEM, Pa. -- February 2, 2013

Law Offices of Howard G. Smith announces that investors of Longwei Petroleum
Investment Holding Limited (“Longwei” or the “Company”) (NYSE MKT:LPH) have
until March 5, 2013 to move the Court to serve as lead plaintiff in the
securities fraud class action lawsuit filed in the United States District
Court for the Southern District of New York on behalf of a class (the “Class”)
comprising all purchasers of the common stock of Longwei between May 17, 2010
and January 3, 2013, inclusive (the “Class Period”). Longwei is a China-based
energy company engaged in transporting, storing and selling finished petroleum
products in the People’s Republic of China.

The Complaint alleges that throughout the Class Period the Company and certain
of its executive officers issued materially false and misleading statements
regarding the Company’s operations and financial performance. Specifically,
the Complaint alleges that defendants misrepresented and/or failed to disclose
that: (a) the Company exaggerated its November 2012 sales figures for its fuel
depot storage facilities in Taiyuan, Shanxi Province, and in Gujiao; (b)
defendants failed to disclose a $32 million investment in a tourism business
made by Longwei Petroleum’s subsidiary, Shanxi Zhonghe Energy Conversion Co.,
Ltd. (“Zhonghe”); and (c) as a result of the foregoing, the Company’s
statements concerning its operations and financial performance were materially
false and misleading at all relevant times.

If you are a member of the Class described above, you have certain rights, and
have until March 5, 2013 to move for lead plaintiff status. To be a member of
the class you need not take any action at this time, or may retain counsel of
your choice. If you wish to discuss this action or learn more concerning your
rights or interests with respect to these matters, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite
112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our
website at http://www.howardsmithlaw.com.

Contact:

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
 
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