China Green Agriculture, Inc. Securities Litigation
On or around 01/07/2016 (Date of order of distribution of settlement)
Filing Date: October 15, 2010
According to a press release dated October 15, 2010, during the Class Period, Defendants misled investors about the quality and nature of China Green's reported financial statements.
The Complaint also alleges that the Company's fiscal 2010 financial statements filed with the SEC are materially false and misleading. In fact, China Green's comparable 2010 financial statements filed with Chinese authorities materially differed from the financial results set forth in the Company's SEC filings. China Green's false and misleading statements during the Class Period inflated the price of the Company's securities. The Complaint asserts that when this adverse information was finally disclosed to the market, the price of the Company's securities dropped, damaging shareholders.
According to the Order entered on April 27, 2011, the motion to appoint the China Green Investor Group as Lead Plaintiff and Approve of Lead Plaintiffs Selection of Lead and Liaison Counsel was granted. The lead plaintiff filed an Amended Complaint on June 13, 2011, expanding the alleged class period and naming certain company directors and underwriters as defendants in the action. The defendants filed several motions to dismiss on October 7, 2011.
On November 1, 2012, the Court issued an Order granting in part and denying in part defendants' motions to dismiss.
On March 18, 2014, a Stipulation of Settlement between the parties was entered into the Court's Docket. This Settlement was preliminarily approved by the Court on March 20th. Final approval was granted August 12.
Company & Securities Information
Defendant: China Green Agriculture, Inc.
Sector: Basic Materials
Industry: Chemical Manufacturing
Ticker Symbol: CGA
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.
First Identified Complaint
Frederic Elliot, et al. v. China Green Agriculture, Inc., et al.