SEC Looks To Block 2 Chinese Co. Stock Sales

Law360, New York (June 13, 2011, 7:17 PM EDT) -- The U.S. Securities and Exchange Commission on Monday looked to halt private stock sales by two Chinese companies — China Century Dragon Media Inc. and China Intelligent Lighting and Electronics Inc. — after an auditor expressed concerns that the companies’ accounts were falsified.

This latest administrative action is part of a recent SEC crackdown on reverse-merger entities — the regulator has suspended trading in six China-related companies within the past few months, largely for accounting irregularities and other troubles.

Both companies were suspended from trading publicly...
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