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Fri, June 10, 2011
Thu, June 9, 2011
Siskinds LLP Announces Cathay Forest Products Corp. Class Action
LONDON, ON, June 9, 2011 /CNW/ - Siskinds LLP today announced the commencement of a class action lawsuit against Cathay Forest Products Corp. (TSXV: CFZ) and certain of its current and former officers and directors. The action is brought on behalf of persons who acquired the securities of Cathay Forest Products Corp. between November 9, 2009 and February 1, 2011. At that time, the Ontario and British Columbia Securities Commissions ordered a halt to trading in Cathay Forest Products Corp.'s shares. On February 4, 2011, Cathay Forest Products Corp. issued restated financial statements and MD&A for the third quarter of 2009, the 2009 fiscal year, and the first two quarters of 2010. Trading in Cathay Forest Products Corp.'s shares has not yet resumed.
Cathay Forest Products Corp. is a Canadian company whose business involves the development of tree plantations, sub-concession of harvesting rights, and log trading in the People's Republic of China as well as forest harvesting operations in Russia. It has been listed on the TSX Venture exchange since 2004 as the product of a reverse take over. Since then, it has raised capital in Canada by way of private placement on a number of occasions, and by way of a $15.25 million dollar public offering completed in December of 2009.
Persons who purchased the shares of Cathay Forest Products Corp.'s securities between November 9, 2009 and February 1, 2011 are encouraged to contact Nicole Young of Siskinds LLP by phone at 1-800-461-6166 x 2380 or by email at [ nicole.young@siskinds.com ].