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Case Status:    SETTLED
On or around 01/28/2014 (Ongoing date of last review)

Filing Date: September 20, 2010

According to the complaint filed on September 20, 2010, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose, among others: (1) that, due to the substantial interconnection between Duoyuan Global Water and DYP, the existence of accounting improprieties and ineffective internal controls at DYP could negatively impact Duoyuan Global Water; and (2) that, as a result, the Defendants lacked a reasonable basis for their statements about Duoyuan Global Water, its business, operations, prospects, and growth.

On March 3, 2011, Judge George B. Daniels signed the order granting the motion to appoint Hoi Ming Michael Ho and Joseph E. Sciarro to serve as lead plaintiffs. The law firm Glancy Binkow & Goldberg LLP was approved as lead counsel for the Class. On June 15, 2011, the plaintiffs filed an Amended Complaint.

On August 11, 2011, the Lead Plaintiffs filed a Corrected Complaint for Violations of the Federal Securities Laws.

On August 24, 2012, the Court issued a Memorandum Decision and Order. The motions to dismiss of certain defendants were granted, while the motions of other defendants were denied.

According to the November 8, 2012 Order, Defendant BDO HK was dismissed without prejudice from this action.

On June 14, 2013, the Court issued an Order granting Plaintiff's Motion for Reconsideration of the Court's August 24 Order, to the extent that the Securities Act of 1933 § 11 claims against the non-management directors who signed the IPO are not dismissed.

The parties entered into a Stipulation of Settlement on September 10, 2013. This Settlement was preliminarily approved by the Court on October 4.

COMPANY INFORMATION:

Sector: Capital Goods
Industry: Misc. Capital Goods
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: DGW
Company Market: New York SE
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 #: 10-CV-07233
JUDGE: Hon. George B. Daniels
DATE FILED: 09/20/2010
CLASS PERIOD START: 11/09/2009
CLASS PERIOD END: 09/13/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
  2. Law Offices of Howard G. Smith
    3070 Bristol Pike, Suite 112, Law Offices of Howard G. Smith, PA 19020
    215.638.4847 215.638.4867 ·
  3. Pomerantz Haudek Block Grossman & Gross LLP (Chicago)
    10 South LaSalle Street, Suite 3505, Pomerantz Haudek Block Grossman & Gross LLP (Chicago), IL 60603
    312.377.1181 312.377.1181 ·
  4. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 10-CV-07233
JUDGE: Hon. George B. Daniels
DATE FILED: 06/15/2011
CLASS PERIOD START: 11/09/2009
CLASS PERIOD END: 09/13/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
No Document Title Filing Date