Hagens Berman is reminding investors that in order to become a lead plaintiff in a case against Puda Coal Inc they must move the court by June 13 2011. Hagens Berman’s investigation includes potential claims against the investment bankers and auditors of Puda including

1. Macquare Capital
2. Brean Murray
3. Carret & Co
4. Newbridge Securities Corp and Moore Stephens after two offerings of shares in the company

The first offering occurred on December 8 2010 and the second occurred on February 12 2010. Moore Stephens was the auditor for the December 31 2010 as well as the 2007-2009 financial statements.

Puda auditors and investment bankers appear to have failed to perform basic due diligence and to inform investors of crucial facts about this subsidiary and the company's stake in it.

The lawsuit, filed in the United States District Court for the Southern District of New York, alleges that Puda and its investment bankers and auditors failed to disclose adverse facts about the company's business.

If you purchased shares of Puda Coal on or around December 8 2010, and February 12 2011 or directly from the investment banks and you wish to move the court for lead plaintiff status, you must do so by June 13 2011. Partner Mr Reed R Kathrein is leading the firm investigation from its San Francisco office and can be reached by phone at 510-725-3000. The lawsuit alleges that Puda transferred the ownership of subsidiary Shanxi Coal without authorization or disclosure to investors and exaggerated its ownership stake in the subsidiary.

Mr Kathrein said "Puda auditors and investment bankers appear to have failed to perform basic due diligence and to inform investors of crucial facts about this subsidiary and the company's stake in it.”