Milberg LLP Announces the Filing of Securities Fraud Class Action Lawsuits Against ShengdaTech, Inc.

Class action lawsuits were filed in the United States District Court for the Southern District of New York on behalf of purchasers of ShengdaTech, Inc. SDTH securities from March 15, 2010, through March 15, 2011, inclusive. The complaints allege that ShengdaTech made materially false and misleading statements, and failed to disclose adverse facts about the Company's business. Specifically, Defendants did not disclose to shareholders that the Company experienced material deficiencies in the system of internal control over its financial reporting and that ShengdaTech's financial statements, during at least 2010, were not recorded accurately.