Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased common stock of Keyuan Petrochemicals, Inc. between August 16, 2010 and October 7, 2011, inclusive alleging violations of the Securities and Exchange Act of 1934.

The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material misrepresentations to the market which had the effect of artificially inflating the market price of Keyuan’s common stock.

If you suffered a loss in Keyuan you have until January 17, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To be a member of the class you need not take action at this time; you may retain counsel of your choice or take no action and remain an absent class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com.