Nova Lifestyle, Inc.

If you purchased Nova Lifestyle, Inc. securities and would like to join the action, please click "Join This Action" below.

NOVA LIFESTYLE (NVFY) INVESTIGATION: HALPER SADEH LLP ANNOUNCES IT IS INVESTIGATING WHETHER NOVA LIFESTYLE, INC. MANAGEMENT BREACHED THEIR FIDUCIARY DUTIES TO SHAREHOLDERS – NVFY

April 19, 2019.

New York, New York—Halper Sadeh LLP, a global investor rights law firm, announces it is investigating potential breaches of fiduciary duties by management of Nova Lifestyle, Inc. (“Nova” or the “Company”) (NASDAQ: NVFY) resulting from allegations that management may have issued materially misleading business information to the investing public.

On December 21, 2018, Andri Capital issued a report on Seeking Alpha stating that Nova Lifestyle’s revenues in 2016 and 2017 were overstated. The report also claimed that Nova Lifestyle overstated its purported “strategic alliance” with Shanxi Wanqing to operate as its lead design and manufacturer for all furnishings in a $460 million senior care center in China. On this news, Nova Lifestyle shares fell $0.31 per share or over 40% to close at $0.46 per share on December 21, 2018.

Following this news, on December 28, 2018, Nova Lifestyle and certain of its officers were sued for allegedly violating the federal securities laws. Halper Sadeh LLP’s investigation focuses on whether Nova Lifestyle’s management breached their fiduciary duties to Nova Lifestyle shareholders.

Our attorneys represent investors all over the world who have fallen victim to securities fraud and corporate misconduct. They have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

Attorney Advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Join This Class Action

Scroll to Top