Case Page

 

Case Status:    SETTLED
On or around 07/02/2018 (Settlement preliminarily approval)

Filing Date: January 24, 2012

According to a press release dated January 25, 2012, the Company violated federal securities laws by releasing false and misleading statements.

The Complaint alleges that, during the Class Period, the Company made false and/or misleading statements or failed to disclose that: (1) the Company was not in compliance with federal healthcare fraud and false claim statutes; (2) the Company engaged in improper reimbursement practices; (3) the Company lacked adequate internal and financial controls; and (4) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times.

On October 18, 2011, after the market closed, the Company disclosed that it had received a subpoena from the Department of Health and Human Services Office of Inspector General. The subpoena requests documents for the period January 1, 2008 through October 6, 2011. Upon these revelations, shares declined $1.27 or more than 40%, to close at $1.85 on October 18, 2011.

On May 8, 2012, the Court issued an Order appointing lead plaintiff and approving the selection of lead counsel.

On July 11, 2012, the Plaintiffs filed an amended complaint.

On September 19, 2013, the Court issued an Order granting defendant's motion to dismiss with prejudice. The Clerk of Court was directed to close this case.

On May 5, 2014, the Court issued an Order granting plaintiffs' motion for reconsideration. The Court vacated the judgment entered on September 19, 2013.

On July 3, 2014, Defendants filed a Motion to Dismiss for failure to state a claim. On December 8, 2015, the Court issued an Order granting Defendant's Motion to Dismiss. On December 16, Plaintiff filed a Notice appealing this decision.

On February 22, 2018, the Court of Appeals issued an opinion reversing in part the decision of the District Court and remanding for proceedings consistent with their opinion. On May 18, the Parties entered into a Stipulation of Settlement. The Court issued an Order preliminarily approving the Settlement on July 2.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TSON
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: E.D. North Carolina
DOCKET #: 12-CV-00023
JUDGE: Hon.James C. Fox
DATE FILED: 01/24/2012
CLASS PERIOD START: 02/21/2008
CLASS PERIOD END: 10/17/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Jackson & McGee, LLP
    225 E. Worthington Avenue, Suite 200 , Jackson & McGee, LLP, NC 28203
    (704) 377-6680 (704) 377-6690 ·
  2. 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: E.D. North Carolina
DOCKET #: 12-CV-00023
JUDGE: Hon.James C. Fox
DATE FILED: 05/05/2014
CLASS PERIOD START: 02/23/2009
CLASS PERIOD END: 10/17/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bronstein, Gewirtz & Grossman, LLC (New York)
    60 East 42nd Street - Suite 4600, Bronstein, Gewirtz & Grossman, LLC (New York), NY 10165
    212.697.6484 212.697.7296 · info@bgandg.com
  2. Jackson & McGee, LLP
    225 E. Worthington Avenue, Suite 200 , Jackson & McGee, LLP, NC 28203
    (704) 377-6680 (704) 377-6690 ·
  3. 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
—Related District Court Filings Data is not available