CTE Sinotech (MM)

Glancy Binkow & Goldberg LLP announces that all persons or entities who purchased the American Depositary Shares (“ADSs”) of SinoTech Energy Limited (“SinoTech” or the “Company”) (NASDAQ:CTE) pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with the Company’s initial public offering on November 3, 2010 (the “IPO”), including open-market purchasers of SinoTech ADSs between November 3, 2010 and August 16, 2011, inclusive (the “Class Period”), have until October 18, 2011, to move the Court to serve as Lead Plaintiff in the securities fraud class action lawsuit. The shareholder lawsuit, Athale v. SinoTech Energy Limited, et al., No. 11-cv-05831-GBD, has been assigned to the Honorable George B. Daniels, United States District Judge for the Southern District of New York.

For more information or a copy of the Complaint, please contact Glancy Binkow & Goldberg by phone to discuss this action at 310-201-9150, toll-free at 888-773-9224, or by email to shareholders@glancylaw.com.

SinoTech provides enhanced oil recovery services to oil companies in the People’s Republic of China. The Complaint charges SinoTech, certain of the Company’s current and former executive officers and directors, and the underwriters of its IPO with violations of the Securities Act of 1933. The Complaint alleges that certain representations made in the Registration Statement and Prospectus issued in connection with the IPO were materially inaccurate. Specifically, the Complaint alleges that the Company’s reported sales and revenues were materially inaccurate, because the nature, size and scope of the Company’s business was materially exaggerated.

The Private Securities Litigation Reform Act of 1995 (“PSLRA”) requires the Court to appoint a “Lead Plaintiff” in this case. Any person or group who suffered a loss as a result of purchasing SinoTech ADSs pursuant and/or traceable to the Company’s November 3, 2010 IPO including open-market purchasers between November 3, 2010 and August 16, 2011, may ask the Court to be appointed as Lead Plaintiff, but must file a motion no later than the October 18, 2011 deadline.

To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at 310-201-9150 or Toll Free at 888-773-9224, by e-mail to shareholders@glancylaw.com.

Sinotech (MM) (NASDAQ:CTE)
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Sinotech (MM) (NASDAQ:CTE)
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