Tibet Pharmaceuticals, Inc. Summary: According to the law firm press release, the Complaint asserts violations of the federal securities laws against Tibet Pharma, its officers and directors, and underwriters for issuing inaccurate statements of material fact about the Company’s true financial and business condition, which ultimately caused the Tibet Pharma’s stock to be halted by the NASDAQ and delisted, causing investors to lose nearly their entire investment. The Complaint alleges defendants misrepresented and failed to disclose material internal control deficiencies, which rendered the Company’s registration statement and prospectus to be materially false and misleading.
On January 9, 2013, the Court issued an Order consolidating cases.
On February 27, 2013, the Court issued an Order appointing lead plaintiffs and approving the selection of lead counsel.
On May 1, 2013, the Lead Plaintiffs filed their Consolidated Amended Class Action Complaint.
SIC Code: 2834
Industry: Biotechnology & Drugs
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