China Sky One Medical (中国天字一号医药公司) admitted that its financial reports filed with the State Administration for Industry and Commerce (SAIC) under-reported the income of China Sky One’s China-based subsidiaries. The company said it expects the SAIC to assess a penalty for the misstatements, but it does not think the penalty will be “material to the company.” More details...

Stock Symbol: (NSDQ: CSKI)