NEW YORK, July 3, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Uroplasty, Inc. ("Uroplasty" or the "Company") (NASDAQ: UPI).
The investigation focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning business, operational, and compliance policies. Specifically, the investigation focuses on whether Uroplasty failed to disclose that it improperly recognized revenues and that it made improper payments of commission sales.
On June 14, 2013, the Company announced that it would delay filing its Annual Report for the year ended March 31, 2013, pending a review of its internal control regarding financial reporting. It further stated that its Chief Financial Officer would be placed on administrative leave. Following this news, Uroplasty's stock price dropped over 10%.
Request more information now by clicking here: www.faruqilaw.com/UPI. There is no cost or obligation to you.
If you invested in Uroplasty's stock or options between July 26, 2012 and June 13, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/UPI. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Uroplasty's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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