Case Page

 

Case Status:    SETTLED
On or around 07/16/2013 (Other)

Filing Date: May 20, 2010

According to a press release dated May 21, 2010, the complaint alleges that during the Class Period, the Individual Defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated TierOne's stock price and operated as a fraud or deceit on purchasers of TierOne stock by misrepresenting the Company's financial condition and business prospects. Once the Individual Defendants' misrepresentations and fraudulent conduct were disclosed to the market, TierOne's stock price reacted negatively as the artificial inflation was removed from it. As a result of their purchases of TierOne stock during the Class Period, Plaintiff and other members of the Class suffered economic loss.

On July 7, 2010, the company defendant filed a suggestion of bankruptcy. The current motion for appointment of lead plaintiff and approval of lead counsel is being held in abeyance.

On October 12, 2010, United States Magistrate Judge Thomas D. Thalken granted the motion of The Valentino Group to be appointed as Lead Plaintiff in this action, and affirmed The Valentino Group’s selection of The Rosen Law Firm, P.A. as Lead Counsel for the litigation. On March 2, 2011, the lead plaintiff filed a Consolidated Amended Complaint. The defendants filed several motions to dismiss. The motions to dismiss were suspended, and the plaintiffs were ordered to file an amended complaint.

On August 24, 2011, the Second Amended Consolidated Complaint was filed.

On July 12, 2012, the Court issued an order granting plaintiffs' unopposed motion for certification of class and for preliminary approval of settlement.

On November 8, 2012, the Court issued a Memorandum and Final Order of Approval approving the settlement and also approving attorneys' fees and expenses. The Court also entered Judgment in this case.

COMPANY INFORMATION:

Sector: Financial
Industry: Regional Banks
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TONE
Company Market: Pink Sheets
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: D. Nebraska
DOCKET #: 10-CV-00199
JUDGE: Hon. Joseph F. Bataillon
DATE FILED: 05/20/2010
CLASS PERIOD START: 08/08/2008
CLASS PERIOD END: 05/14/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm, P.A. (New York)
    350 Fifth Avenue, Suite 5508, The Rosen Law Firm, P.A. (New York), NY 10118
    212.686.1060 212.202.3827 · lrosen@rosenlegal.com
No Document Title Filing Date
COURT: D. Nebraska
DOCKET #: 10-CV-00199
JUDGE: Hon. Joseph F. Bataillon
DATE FILED: 08/24/2011
CLASS PERIOD START: 08/09/2007
CLASS PERIOD END: 05/14/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm, P.A. (New York)
    350 Fifth Avenue, Suite 5508, The Rosen Law Firm, P.A. (New York), NY 10118
    212.686.1060 212.202.3827 · lrosen@rosenlegal.com
No Document Title Filing Date