Press release from PR Newswire
Deer Consumer Products, Inc. Announces Continued Efforts Against the Manipulative Short Seller "Alfred Little" Organization
Wednesday, December 21, 2011
Deer Consumer Products, Inc. Announces Continued Efforts Against the Manipulative Short Seller "Alfred Little" Organization06:55 EST Wednesday, December 21, 2011NEW YORK, Dec. 21, 2011 /PRNewswire/ -- Deer Consumer Products, Inc. (Nasdaq: DEER) (website: http://www.deerinc.com/), a leading provider of "DEER" branded household consumer products and a vertically integrated manufacturer of small household and kitchen appliances for global customers, announced today that threats from a group of U.S. and China based short sellers led by a fictitious group known as "Alfred Little", have been carried out due to Deer's refusal to withdraw a pending United States lawsuit pending in the Supreme Court of the State of New York.Of further interest is a press related dated December 20, 2011 issued by the New York Stock Exchange listed Silvercorp Metals, Inc. (NYSE: SVM), titled Silvercorp Metals Inc.: Chinese Law Enforcement Agents Open Criminal Case to Investigate Creators of Falsified Reports. Deer believes that short sellers established short positions in order to benefit from a purportedly upcoming "Alfred Little" report which caused the sudden drop in the price of Deer's common stock during the last 30 minutes of trading before market close on December 15, 2011, as well as drop in Deer's share prices on December 19 and December 20. This is the same conduct that caused dramatic drops in Deer stock prices in March of this year and the very reason for the lawsuit demanding justice against the "Little" conspirators that this same group is now attempting to have dismissed, not via legitimate judicial process, but via intimidation, coercion and in terrorum threats.Deer remains fully committed to protecting and preserving the legal rights of the Company and its shareholders from these short and distort activities and will not be terrorized by this group of bandits. About Deer Consumer Products, Inc.Deer Consumer Products, Inc. is a NASDAQ Global Select Market listed U.S. company with its primary operations in China . Deer has a 17-year operating business as well as a strong balance sheet. Operated by Deer's founders and supported by more than 100 patents, trademarks, copyrights, Deer is a leading provider of "DEER" branded consumer products to Chinese consumers and a leading vertically integrated manufacturer of small home and kitchen appliances for global customers. In 2011, Deer has paid quarterly cash dividends of $0.05 per share. As of the end of third quarter 2011, Deer had approximately $5.15 per share in net assets without any long-term debts.Safe Harbor StatementAll statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Deer's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Deer's filings with the Securities and Exchange Commission.Corporate Contact:Helen Wang , PresidentDeer Consumer Products, Inc.Tel: 011-86-755-86028300Email: email@example.comSOURCE Deer Consumer Products, Inc.