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News Breaks
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January 27, 2010
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| 09:01 EDT |  | CBPO |
| theflyonthewall.com: | China Biologic Products responds to allegations | | China Biologic Products responded to allegations regarding the company, certain members of its Board of Directors and a significant employee in an article that appeared on several online financial websites. The circumstances surrounding the Company's formation, including the various legal proceedings have been disclosed in the Company's public filings with the US Securities and Exchange Commission. After consultation with legal counsel and the members of the audit committee, the Board of Directors has established a special independent subcommittee comprised of audit committee chair, Mr. Sean Shao, and independent director, Dr. Tong Jun Lin, to investigate the additional allegations and report back to the Board of Directors. The subcommittee has also been authorized to seek out and retain a reputable international firm to assist in the investigation and report its findings to the subcommittee as soon as practicable. :theflyonthewall.com |
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