BENSALEM, Pa., Sept. 17, 2008 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces that it is investigating potential claims against Synutra International, Inc. ("Synutra" or the "Company") (Nasdaq:SYUT) concerning possible securities violations related to the Company's business and operations.
The investigation concerns the Company's recall of certain of its U-smart series of infant formula products that contain melamine, a chemical used to make plastics and found in tanning leather. Melamine has been linked to recent illness and deaths among infants and children in China.
Synutra's stock lost more than $12.00 per share (27%) on September 15, 2008 and more than $18.00 per share (54%) on September 16, 2008, as reports on the market indicated that Synutra's infant formula was on a list of products that contain melamine. That evening, Synutra announced that the Company "has been informed by China's Administration of Quality Supervision, Inspection and Quarantine (China AQSIQ) that certain lots of its U-Smart series of products have been contaminated by melamine, a substance not approved for use in food and linked to recent illness among infants and children in China." As a result, Synutra announced that the Company is recalling all of the affected products and that it would "announce the details of its recall process for all affected products as they become available."
If you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll-Free at (888) 638-4847, or by email to howardsmithlaw@hotmail.com.