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Case Status:    SETTLED
On or around 03/16/2012 (Date of order of distribution of settlement)

Filing Date: December 12, 2008

According to a press release dated December 13, 2008, the complaint alleges violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and names as defendants China Organic and certain of its officers and directors. The complaint goes on to state the defendants took the Company public in early 2007 and made numerous statements during the Class Period regarding the Company's prospects and sales. Defendants, for example, claimed to be developing organic rice for sale in China, but according to the complaint, never developed any kind of product that could be sold at a competitive price. According to the complaint these and other Class Period statements were false and misleading, designed to inflate the price of the Company's stock. Indeed, according to the complaint, insiders sold tens of millions of dollars worth of Company stock during the Class Period, acquired for themselves a luxury retreat in California, sold off the Company's only significant operation and within eighteen months of taking the Company public left only an empty shell and huge shareholder losses.

On June 08, 2010, a Preliminary Order In Connection With Settlement Proceedings was issued by the Court.

On December 07, 2010, a Final Judgment Order Of Dismissal with Prejudice was issued by the Court.

On March 16, 2012, a Class Distribution Order granted the Motion for Disbursement of Funds, and the parties were directed to perform according to its terms.


Sector: Consumer Non-Cyclical
Industry: Food Processing
Headquarters: China


Ticker Symbol: CNOA
Company Market: OTC-BB
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 08-CV-10810
JUDGE: Hon. Paul A. Crotty
DATE FILED: 12/12/2008
CLASS PERIOD END: 08/14/2008
  1. Sarraf Gentile LLP (Former New York)
    11 Hanover Square, 2nd Floor, Sarraf Gentile LLP (Former New York), NY 10005
    212.868.3610 212.868.3610 ·
  2. Vianale & Vianale LLP (Boca Raton)
    2499 Glades Road, Suite 112, Vianale & Vianale LLP (Boca Raton), FL 33431
    561.392.4750 561.392.4750 ·
No Document Title Filing Date