The Rosen Law Firm Files Class Action Charging Bodisen Biotech, Inc. With Securities Fraud -- BBC

19 November 2006

The Rosen Law Firm today announced that it has filed a class action lawsuit on behalf of purchasers of Bodisen Biotech, Inc. ("Bodisen" or the "Company") (AMEX: BBC) common stock during the period from August 26, 2005 through and including November 14, 2006 (the "Class Period").

To join the Bodisen class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.

The case is pending in the United States District Court for the Southern District of New York as case no. 06-13220. You can obtain a copy of the complaint from the clerk of court or you may contact counsel for plaintiffs Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com.

The complaint charges that Bodisen and certain of its officers, along with Benjamin Wey a/k/a Benjamin Wei and his company New York Global Group, Inc. ("NYGG"), violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by causing the issuance of materially false and misleading information about the Company's performance, business prospects, and failing to disclose material relationships the Company had with Benjamin Wey and his related companies.

The complaint alleges that on November 12, 2006 the Company issued a press release that it received a letter from the AMEX "warning that it is out of compliance with certain listing standards." A later press release issued by the AP states that AMEX "believes Bodisen made insufficient or inaccurate disclosure in public filings on its relationship with, and payments to, New York Global and its affiliates both prior to and subsequent to its listing on the exchange." The later press release also states that the AMEX "expressed concern that Bodisen has internal control issues related to its accounting and financial reporting obligations in the context of this relationship with the company."

The complaint also asserts that the November 12, 2006 announcement followed numerous reports by nationally prominent journalists that revealed the Company had hired stock promoter Benjamin Wey, an individual with prior securities violations that ultimately led to fines and suspension of Wey's securities license. These news reports revealed that Wey, through his company New York Global, issued analyst reports and other statements to the investing public touting the Company's stock without disclosing that they were being paid by the Company. News reports also indicate that during this time, millions of shares of the Company stock were sold by or through persons who were affiliated with NYGG and its related entities. The complaint asserts that these adverse disclosures have caused the Company's stock price to decline.

A class action lawsuit has already been filed on behalf of Bodisen shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.

The Rosen Law Firm has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.

Contact: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm P.A. Tel: (212) 686-1060 Weekends Tel: (917) 797-4425 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 Email Contact Email Contact www.rosenlegal.com

SOURCE: The Rosen Law Firm P.A.

Source: marketwire

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