HARTFORD, Conn., April 25, 2008 (Lawfuel) — The law firm of
Schatz Nobel Izard P.C., which has significant experience representing
investors in prosecuting claims of securities fraud, announces that a
lawsuit seeking class action status has been filed in the United States
District Court for the Southern District of New York on behalf of all
persons who purchased the American Depository Receipts (“ADRs”) of
Agria Corporation (“Agria” or the “Company”) (NYSE:GRO) pursuant or
traceable to the Company’s November 6, 2007 Initial Public Offering
(“IPO”).
The Complaint alleges that Agria and certain of its officers and
directors violated federal securities laws. The Company engages in the
research and development and production and sale of upstream
agricultural products in the People’s Republic of China. Agria conducts
substantially all of its operations in China through its contractual
arrangements with a consolidated affiliated entity, Primalights III
Agriculture Development Co., Ltd. (“P3A”), and a wholly-owned
subsidiary in China, Aero-Biotech Science & Technology Co., Ltd.
According to the Complaint, the Registration Statement issued in
connection with the IPO contained untrue statements of material facts,
omitted other facts necessary to make the statements made not
misleading and was not prepared in accordance with the rules and
regulations governing its preparation. Specifically, the Complaint
alleges that the Registration Statement and Prospectus were required to
disclose that, at the time of the IPO, the Company was already running
the risk of potentially damaging its relationship with P3A and losing a
member of its management team, thereby adversely affecting its
financial success.
If you are a member of the class, you may, no later than June 10, 2008,
request that the Court appoint you as lead plaintiff of the class. A
lead plaintiff is a class member that acts on behalf of other class
members in directing the litigation. Although your ability to share in
any recovery is not affected by the decision whether or not to seek
appointment as a lead plaintiff, lead plaintiffs make important
decisions which could affect the overall recovery for class members.
While Schatz Nobel Izard P.C. has not filed a lawsuit against the
Defendants, to view a copy of the Complaint initiating the class action
or for more information about the case, class action cases in general,
and your rights, please contact Schatz Nobel Izard P.C. toll-free at
(800) 797-5499, or by e-mail at firm@snilaw.com, or visit our website:
www.snilaw.com.
