XFML update

We'll let the picture and Reuters do the talking here:

NEW YORK, May 22 (Reuters) - An investor filed a lawsuit on Tuesday accusing China-based Xinhua Finance Media Ltd. (XFML.O: Quote, Profile , Research) of misrepresenting material facts about itself.

The lawsuit, brought by Israel Bollag in the Southern District of New York, also names the underwriters of the company's March initial public offering, J.P. Morgan Securities Inc. (JPM.N: Quote, Profile , Research), UBS AG (UBSN.VX: Quote, Profile , Research), CIBC World Markets Corp. (CM.TO: Quote, Profile , Research) and WR Hambrecht & Co., its chief executive officer, Fredy Bush, and its former chief financial officer, Shelly Singhal.

The lawsuit seeks class action status.

To learn more about the fine photo of a Lappet-Faced Vulture, click on the picture.