RINO International Corporation ("RINO" or the Company) produces wastewater treatment, desulphurization, and anti-oxidation equipment.

According to the press release dated November 15, 2010, the Complaint asserts violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 against RINO and certain of its officers and directors for misrepresenting the Company’s true financial performance. The Complaint alleges that contrary to the Company’s annual report filed with the SEC for fiscal 2009 which reported $193 million of revenue, the Company’s annual report filed with the Chinese authorities reported only $11 million of revenue for 2009. This discrepancy, along with other accounting inconsistencies and questionable transactions between RINO and its management, has raised red flags and prompted an internal review. The Complaint asserts that when the market learned of this adverse information, the price of RINO stock dropped, damaging investors.

On February 16, 2011, the Court entered the tentative ruling signed by Judge Valerie Baker Fairbank consolidating six related actions, granting Stream SICAV’s motion to be appointed lead Plaintiff, and approving the Rosen Law Firm, P.A. as lead Counsel for the class. The Court denies all other motions with respect to appointment of lead Plaintiff and approval lead Counsel. On April 18, 2011, the Plaintiffs filed a Consolidated Amended Class Action Complaint. The Defendants responded by filing motions to dismiss in September 2011.

On May 21, 2012, the Court issued a Preliminary Approval Order of the settlement between the parties.

On July 6, 2012, the Plaintiffs filed a second amended Complaint.

On December 19, 2012, the Court issued a Final Judgment and Order of Dismissal with Prejudice. The case continues against the auditor Defendant.

On January 14, 2013, the Court issued an Order granting the auditor Defendant's motion to dismiss. Plaintiffs were given leave to amend.

On February 27, 2013, the Court issued an Order awarding attorneys' fees and reimbursement of expenses.

On August 1, 2013, the Court issued an Order denying an auditor Defendant's motion to dismiss the third amended Complaint.

On January 31, 2014, Plaintiffs filed a Fourth Amended Complaint.

On August 27, 2015, the Plaintiffs entered a Stipulation of Settlement with the auditor Defendant. On October 27, the Court issued an Order preliminarily approving the Settlement. On February 1, 2016, the Court granted final approval of the Settlement and entered Final Judgment. On August 10, 2018, the Court issued an Order granting Plaintiffs' Motion for distribution of the Class Settlement funds.