Orient Paper, Inc. ("ONP" or the Company) is a Chinese company that manufactures and distributes a range of paper products in North China.

According the Complaint filed August 06, 2010, the Complaint asserts that the Company’s revenues were substantially overstated and that the Company exaggerated the extent of its business operations. On June 28, 2010, an entity calling itself Muddy Waters released a report containing facts indicating that ONP has issued false financial statements and press releases. The report was followed by a series of back-and-forth accusations between Muddy Waters and the Company. Finally, on July 16, 2010, ONP announced that it would retain a law firm and a “Big Four” accounting firm to conduct an investigation into the troubling issues raised by Muddy Waters. As a result of these adverse disclosures, ONP’s share price dropped substantially, damaging shareholders.

On November 18, 2010, Judge Valerie Baker Fairbank appointed the ONP Group as Lead Plaintiff and approved their choice of the Rosen Law Firm, P.A. as Lead Counsel. On January 28, 2011, the Plaintiffs filed an Amended Complaint, amending the class period, claims, and named Defendants in the action. The Defendants responded by filing a motion to dismiss the Amended Complaint on March 14, 2011. The motion to dismiss was denied on July 20, 2011. According to the Minutes, Defendants have insufficiently shown that Plaintiffs have not met their burden under the Private Securities Litigation Reform Act.

On October 14, 2011, the Plaintiffs filed a motion to certify the class.

On October 3, 2012, the parties agreed to a Stipulation of Settlement.

On November 16, 2012, the Court issued an Order preliminarily approving settlement and providing for notice. On April 29, 2013, the Court issued an Order awarding attorneys' fees and expenses. On the same date, the Court issued a Final Judgment and ordered this case dismissed with prejudice.