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SEC Says Chinese Cos. Misled Investors Over Offerings

By Jeff Sistrunk ( July 22, 2013, 10:48 PM EDT) -- The U.S. Securities and Exchange Commission on Monday sued electronics companies China Intelligent Lighting and Electronics Inc. and NIVS IntelliMedia Technology Group Inc. for allegedly misleading investors about the use of $29 million from public offerings and covering up the alleged fraud by falsifying records....

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