Thursday, 17 Feb 2011 12:25pm EST
Robbins Umeda LLP, announced that it has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at China Sky One Medical, Inc. China Sky One Medical, through its subsidiaries, develops, manufactures, markets, and sells over-the-counter branded nutritional supplements, and over-the-counter plant and herb-based pharmaceutical and medicinal products primarily in the People's Republic of China. The company is based in Harbin, the People's Republic of China. Robbins Umeda LLP's investigation concerns the admission by China Sky One Medical that its financial reports filed with the State Administration for Industry and Commerce (SAIC) in China underreported the income of China Sky One Medical's China-based subsidiaries. The investigation also concerns whether the officers and directors caused China Sky One Medical to file inconsistent revenue reports with the SAIC and the Securities and Exchange Commission in the United States. As a result, China Sky One Medical may be penalized by the SAIC.