Aerospace Co. Failed To Disclose Illegal Exports, Suit Says

Law360, Los Angeles (September 25, 2013, 8:20 PM EDT) -- Aerospace technology company Valley Forge Composite Technologies Inc. was hit with a proposed class action Wednesday by an investor who claims Valley Forge shareholders suffered losses when it was revealed that the company's primary source of revenue was its allegedly illegal exports of military semiconductors to Hong Kong. 

Lead plaintiff Robert Neborsky claimed Covington, Ky.-based Valley Forge and its co-founders committed securities fraud by misleading investors about the company's revenue sources to avoid detection of their allegedly illegal activities. When Valley Forge publicly divulged that federal...
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