Fuwei is a manufacturer and distributor of high-quality BOPET films in China. On April 8th 2011, it announced that it has filed an administrative lawsuit with United States Court of International Trade in connection with anti-dumping duties imposed pursuant to the first administrative review issued by the U.S. Department of Commerce on March 18, 2011.
In June 2007 FFHL announced that three of its major shareholders, one of whom is a Company director, were under investigation. In October 2007 the Company announced that authorities in China had issued arrest notices for the same three individuals on suspicion of violations of Chinese laws and regulations. And as a result of these adverse disclosures, FFHL’s share price collapsed.
FFHL retained its listing after the transfer of ownership from previous shareholders.
BigClassAction.com: Fuwei Films Holdings Co., Ltd. NASD: FFHL, 22 Oct 2007
Fuwei Films: Fuwei Films Files Administrative Lawsuit in Connection with Anti-Dumping Duties, 8 Apr 2011
Scott Eden, Robert Holmes (The Street): SEC Probes China Stock Fraud Network, 21 Dec 2010
Fuwei Films: Annual Report, 14 Apr 2008