Lihua International, Inc. manufactures cable and wire. The Company produces copper clad aluminum superfine magnet wire for the consumer electronics, white goods, automotive, utility, telecommunications, and specialty cable industries.
Absaroka Capital published a report in Aug 2011 pointing out several issues with the company, including self-dealing and related party transactions, illogical financial results, implausibly large asset costs and repeated secondary share issuances.
The company faced shareholder class actions, which it settled for $2.9m in 2017.
Absaroka Capital: Lihua International – Meltdown Alert, Aug 2011
The Rosen Law Firm: Legal Document, 6 Feb 2015
Law360: Judge Gives Shareholders Nod In $2.9M Lihua Deal, 24 Jul 2017
Kerrisdale Capital: Lihua International: We Think Undisclosed Related Party Transactions Occurred, 4 Aug 2011