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July 3, 2013
09:54 EDTONPOrient Paper rallies after SEC ends investigation with no action
Orient Paper announced earlier today that the staff of the SEC has notified the company that it has completed an investigation of the company and does not intend to recommend any enforcement action. The staff began an informal inquiry regarding the company in December 2010. The company said, ""We are very happy to put this matter behind us as we continue to expand our business in the North China region to ride on the growth opportunities presented by the rising urbanization in the country. We are ramping up our new corrugating medium paper production line and building our new tissue paper facility as planned to tap on the unmet market needs here in this region." Shares of Orient Paper are up 58%, or 86c, to $2.35 following the news.
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