SAN DIEGO, Dec. 1, 2009 (GLOBE NEWSWIRE) -- Plaintiff George Sharp announced today that Yasheng Eco-Trade Corporation (OTCBB:YASH) has objected to producing certain documents requested in conjunction with a lawsuit filed by the former shareholder for, amongst other causes of action, Securities Fraud. The objections were among several cited to Mr. Sharp in answer to a Deposition Notice served by Mr. Sharp onto Yasheng Eco-Trade.
Amongst the documents Yasheng Eco-Trade has objected to producing are those in conjunction with the previously announced merger and then acquisition of a majority of Yasheng Group (Pink Sheets:YHGG). The Defendants also objected to producing those documents having to do with previously announced:
* stock repurchase programs * activities in the Adams-Baggett Field * dealings with International Treasure Finders Incorporated * dealings with JFD Kapital Group * dealings with Cukierman & Co. Investment House Ltd. * dealings with Better Online Solutions Ltd. * activities through Yasheng Group Russia * acquisition of Barnett Shale Properties.
Mr. Sharp commented, "It seems to me that a public company that is defending a lawsuit for allegedly defrauding a former shareholder would be happy to produce documents in an attempt to prove that its dealings were legitimate and aboveboard. Defrauding the public is a serious allegation, and if the Defendants are innocent, as they claim they are, they should be prepared to open their arms to any examination."
Mr. Sharp is a former Vortex Resources Corporation, now known as Yasheng Eco-Trade Corporation (OTCBB:YASH), shareholder who has filed a civil action for Fraud, Negligent Misrepresentation, Securities Fraud and violations of the California Business and Professions Codes 17200 (unfair Business Practices) and 17500 (False Advertising) against the Company and its CEO Yossi Attia. The Complaint was filed in the San Diego County Division of California Superior Court (Case No. 37-2009-00100574-CU-MC-CTL) on October 19, 2009. and served upon the Defendant on October 26, 2009.
Further information about this lawsuit and a copy of the complaint can be obtained at the website: www.sharp-v-yasheng.info