Deer Consumer Products, Inc. ("Deer" or the Company), a Chinese company, designs, manufactures and sells small home and kitchen electric appliances such as blenders, juicers and soy milk makers.

According to the press release dated April 30, 2011, the Complaint alleges that Deer misrepresented its financial performance, business prospects, and financial condition to investors, citing inconsistent Chinese regulatory filings. The Complaint also alleges that Deer improperly recognized revenue in violation of Generally Accepted Accounting Principles (“GAAP”).

Defendants issued materially false and misleading statements and omitted to state material facts that rendered their affirmative statements misleading as they related to the Company's financial performance, business prospects, and true financial condition.

On July 21, 2011, the Court issued an order appointing lead Counsel.

On September 6, 2011, the lead Plaintiff filed an amended class action Complaint.

On December 21, 2012, the parties entered into a Stipulation of Settlement. On March 22, 2013, the Court preliminarily approved the Settlement. On August 9, the Court issued an order and judgment granting final approval of the Settlement, dismissing this case with prejudice, and approving attorneys' fees and expenses.