SkyPeople Fruit Juice produces packaged food products. The Company engages in the production and sale of fruit juice concentrates, beverages, and other products. The company is now known as Future FinTech Group Inc. (FTFT)
The company was accused of engaging in undisclosed related party transactions in 2009. A lawsuit was filed against the company, it was later dismissed.
The company filed a defamation suit against Absaroka Capital Management LLC, a short seller, in Jul 2011. The case was settled in Jun 2012, with both side dismissing the claims and counterclaims. It was alleged that the key financial statements were removed from the SAIC filings obtained for the trial, and that Absaroka’s Chinese lawyers received death threats.
SkyPeople Fruit Juice: 2010 Annual Report, 1 Apr 2011
BusinessWire: The Rosen Law Firm Files Securities Class Action Charging SkyPeople Fruit Juice, Inc. with Securities Fraud, 20 Apr 2011
PR Newswire: SkyPeople Fruit Juice and Absaroka Capital Management Reach Settlement, 22 Jun 2012
Value Walk: Fraud? Roddy Boyd Article on SkyPeople Fruit Juice, 23 Jan 2012