SORL Auto Parts Constitutes Special Committee To Evaluate Offer From CEO

(RTTNews) - SORL Auto Parts, Inc. (SORL) Tuesday said it has formed a special committee to evaluate the non-binding acquisition offer from Xiaoping Zhang, chairman and chief executive officer, Shuping Chi and Xiaofeng Zhang, directors of the company. The offer letter was issued on October 30, 2015.

The special committee will constitute of independent directors of Yuhong Li, Huilin Wang, Jinbao Liu and Jianghua Feng to review.

The Special Committee has retained Roth Capital Partners, LLC as its independent financial advisor and both Sullivan & Worcester LLP and Jun He Law Offices LLC as its legal counsel. The Special Committee will also be advised by Richards, Layton & Finger, LLP.