NEW YORK, Nov. 7, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims on behalf of purchasers of American Depository Shares ("ADSs") of Agria Corporation ("Agria" or the "Company") (NYSE: GRO), concerning whether the Company and certain of its officers and/or directors violated the federal securities laws.
On November 4, 2016, Agria announced that it had received a letter on November 3, 2016 from the New York Stock Exchange ("NYSE") stating that trading in Agria's ADSs would be immediately suspended and that the NYSE would commence proceedings to delist the Company's ADSs.
According to the NYSE's letter, the determination to delist the Company was based on an investigation by the NYSE that uncovered evidence demonstrating that the Company and its management had (i) through a top executive and other intermediaries engaged in trading intended to artificially inflate Agria's stock price, including to improperly avoid having the Company delisted for failing to comply with NYSE's continued listing standards requiring companies to maintain an average stock price of at least $1.00 per share over a consecutive 30-day trading period; and (ii) provided incomplete, misleading, or false information in connection with investigations related to these issues.
The Company also belatedly disclosed that, on December 23, 2015, it had received a subpoena from the United States Securities and Exchange Commission ("SEC") in connection with an investigation into the Company's historic and ongoing business operations in China.
If you have any facts relating to these issues, or if you purchased Agria ADSs and wish to discuss your rights, please contact:
Robert I. Harwood, Esq.
Peter W. Overs, Jr., Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP