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ValueRich Sues China Pharmaceuticals (CFMID.OB), Formerly Xian China Qinba Pharmaceutical


6/17/2010 8:04:14 AM

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--ValueRich, Inc. (NYSE Amex: IVA) announced today that the company has commenced litigation against China Pharmaceuticals, a publicly traded company under the symbol (OTCBB: CFMI, CFMID) for breach of contract and other related claims. ValueRich alleges ownership of 20% of the outstanding shares of China Pharmaceuticals “pursuant to a May 2009 Consulting Agreement (the `Consulting Agreement') between ValueRich and Xian Pharmaceuticals, Ltd, the Chinese-based operating company for China Pharmaceuticals (`collectively, China Pharmaceuticals').”

Read at BioSpace.com

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