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Duoyuan has announced the resignation of four members of the company's Board of Directors amidst allegations of fraudulent internal company controls. Duoyuan has engaged international law firm Baker & McKenzie and an international accounting firm to conduct an internal investigation and review of the company.<ref>WSJ Online. , ''The Wall Street Journal'', May 4, 2011, accessed July 20, 2011. {{Dead link|date=September 2011}}</ref> Duoyuan has announced the resignation of four members of the company's Board of Directors amidst allegations of fraudulent internal company controls. Duoyuan has engaged international law firm Baker & McKenzie and an international accounting firm to conduct an internal investigation and review of the company.<ref>WSJ Online. , ''The Wall Street Journal'', May 4, 2011, accessed July 20, 2011. {{Dead link|date=September 2011}}</ref>


Although Duoyuan Global Water has been accused of securities fraud in a against the company, this is still in litigation and no formal ruling has been made yet.<ref>Business Wire. , ''The Street'', September 21, 2010, accessed July 20, 2011.</ref> "We are optimistic that the newly appointed Special Investigation Committee will be able to work quickly towards a thorough and an early completion of their investigation," stated Mr. Wenhua Guo, the newly appointed chairman of the Board of Directors.<ref>WSJ Online. , ''The Wall Street Journal'', May 4, 2011, accessed July 20, 2011. {{Dead link|date=September 2011}}</ref> Although Duoyuan Global Water has been accused of securities fraud in a against the company, this is still in litigation and no formal ruling has been made yet.<ref>Business Wire. , ''The Street'', September 21, 2010, accessed July 20, 2011.</ref> "We are optimistic that the newly appointed Special Investigation Committee will be able to work quickly towards a thorough and an early completion of their investigation," stated Mr. Wenhua Guo, the newly appointed chairman of the Board of Directors.<ref>WSJ Online. , ''The Wall Street Journal'', May 4, 2011, accessed July 20, 2011. {{Dead link|date=September 2011}}</ref>


== References == == References ==
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== External links == == External links ==
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Revision as of 00:31, 23 April 2019

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Duoyuan Global Water (NYSE: DGW) is a China-based company that specializes in manufacturing water and waste water treatment equipment. Duoyuan has been around since 1992, providing over 100 types of products and treatment solutions for municipal, industrial, residential and agricultural water systems. Over two decades ago, Duoyuan created the first water treatment apparatus in China, and it has since won awards for its important products and treatment mechanisms.

History

1992

Founding of Duoyuan.

1994

Manufacturing facility built in Beijing.

1998

Began production of pure water equipment.

2000

Manufacturing facility built in Langfang.

2001

Began production of sewage and waste water equipment.

2003

Established first postdoctoral water treatment and R&D center.

2009

Duoyuan Global Water, Inc. becomes the only water treatment equipment manufacturing company from China listed on the New York Stock Exchange, with an initial public offering on June 29 of $16.00 per share.

2011

Duoyuan has announced the resignation of four members of the company's Board of Directors amidst allegations of fraudulent internal company controls. Duoyuan has engaged international law firm Baker & McKenzie and an international accounting firm to conduct an internal investigation and review of the company.

Although Duoyuan Global Water has been accused of securities fraud in a class action lawsuit against the company, this is still in litigation and no formal ruling has been made yet. "We are optimistic that the newly appointed Special Investigation Committee will be able to work quickly towards a thorough and an early completion of their investigation," stated Mr. Wenhua Guo, the newly appointed chairman of the Board of Directors.

References

  1. Prospectus, EDGAR Filings."Securities & Exchange Commission", January 29, 2010, accessed July 20, 2011.
  2. WSJ Online. , The Wall Street Journal, May 4, 2011, accessed July 20, 2011.
  3. Business Wire. , The Street, September 21, 2010, accessed July 20, 2011.
  4. WSJ Online. , The Wall Street Journal, May 4, 2011, accessed July 20, 2011.

External links

Categories: