January 30, 2013 at 11:38 AM EST
The Rosen Law Firm Announces That China Central Television ("CCTV") Has Corroborated Allegations Against Longwei Petroleum Investment Holding Limited -- LPH

NEW YORK, Jan. 30, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm announced that on January 28, 2013, China Central Television ("CCTV"), the predominant state-owned television network in the PRC, produced two news segments corroborating GeoInvesting's report that Longwei Petroleum Investment Holding Limited (NYSE:LPH) has been misrepresenting its true financial and business condition.

CCTV confirmed that Longwei's facilities have long been idle, and that its largest subsidiary reported revenue to Chinese tax authorities that is only a tiny fraction of the revenue Longwei reported to the SEC. The CCTV segments are available at: http://news.cntv.cn/2013/01/28/VIDE1359383612262518.shtml, and http://news.cntv.cn/2013/01/28/VIDE1359383582111295.shtml.

The Rosen Law Firm filed the first class action lawsuit against Longwei to recover investors' losses. 

If you suffered a loss in Longwei stock, visit the website at http://rosenlegal.com to join the class action.

If you wish to serve as lead plaintiff, you must move the Court no later than March 5, 2013.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  You may contact Phillip Kim, Esq. or Jonathan Horne, Esq., toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or jhorne@rosenlegal.com for more information. 

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

Attorney Advertising. Prior results do not guarantee a similar outcome.

CONTACT: Laurence Rosen, Esq.
         Phillip Kim, Esq.
         Jonathan Horne, Esq.
         The Rosen Law Firm P.A.
         275 Madison Avenue 34th Floor
         New York, New York 10016
         Tel:  (212) 686-1060
         Weekends Tel: (917) 562-8616
         Toll Free: 1-866-767-3653
         Fax: (212) 202-3827
         lrosen@rosenlegal.com
         pkim@rosenlegal.com
         jhorne@rosenlegal.com
         www.rosenlegal.com
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