Case Page

 

Case Status:    DISMISSED    
On or around 11/10/2014 (Other)

Filing Date: October 01, 2010

According to a press release dated October 1, 2010, the Complaint asserts violations of the federal securities laws against AspenBio and certain of its officers and directors for issuing materially false and misleading statements about the effectiveness of AppyScore as a test to diagnose appendicitis. According to the Complaint, Defendants were aware or recklessly disregarded information that AppyScore was not effective in detecting appendicitis as it could not differentiate between appendicitis and other medical conditions. According to the Complaint, this adverse information caused the Company's stock to drop, causing investors substantial losses.

On December 1, 2010, the defendants filed a motion to dismiss the case, and another motion to transfer the case to the District of Colorado. On January 20, 2011, Judge George H. Wu granted the defendant's motion to transfer the case to the United States District Court for the District of Colorado.

On July 11, 2011, Judge Robert E. Blackburn granted the motion to appoint Mike Marnhout as lead plaintiff and approved the Rosen Law Firm, P.A. as lead counsel. On August 23, 2011, the lead plaintiff filed an Amended Class Action Complaint. The defendants responded by filing a motion to dismiss on October 7, 2011.

On September 13, 2012, the Court issued an Order granting defendants' motions to dismiss. The plaintiffs' claims against defendants were dismissed without prejudice and judgment was entered on behalf of defendants. On October 12, 2012, the plaintiffs filed a Notice of Appeal of the above Order.

On October 17, 2014, the Court of Appeals issued an Order affirming the judgment of the District Court.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: APPY
Company Market: NASDAQ
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. Colorado
DOCKET #: 10-CV-07365
JUDGE: Hon. George H Wu
DATE FILED: 10/01/2010
CLASS PERIOD START: 02/22/2007
CLASS PERIOD END: 07/19/2010
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. Colorado
DOCKET #: 11-CV-00165
JUDGE: Hon. George H Wu
DATE FILED: 08/23/2011
CLASS PERIOD START: 02/22/2007
CLASS PERIOD END: 07/19/2010
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