Case Page

 

Case Status:    SETTLED
On or around 12/30/2016 (Ongoing date of last review)

Filing Date: May 25, 2012

According to the law firm press release, the Complaint asserts violations of the federal securities laws against Tibet Pharma, its officers and directors, and underwriters for issuing inaccurate statements of material fact about the Company’s true financial and business condition, which ultimately caused the Tibet Pharma’s stock to be halted by the NASDAQ and delisted, causing investors to lose nearly their entire investment. The Complaint alleges defendants misrepresented and failed to disclose material internal control deficiencies, which rendered the Company’s registration statement and prospectus to be materially false and misleading.

On January 9, 2013, the Court issued an Order consolidating cases.

On February 27, 2013, the Court issued an Order appointing lead plaintiffs and approving the selection of lead counsel.

On May 1, 2013, the Lead Plaintiffs filed their Consolidated Amended Class Action Complaint.

On May 1, 2014, the Court issued an Order transferring this case to the District of New Jersey.

On May 31, 2016, the parties entered into a Stipulation of Settlement. The Settlement was preliminarily approved on December 29.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: Hong Kong

SECURITIES INFORMATION:

Ticker Symbol: TBET
Company Market: OTC-BB
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. New Jersey
DOCKET #: 12-CV-00054
JUDGE:
DATE FILED: 05/25/2012
CLASS PERIOD START: 12/28/2010
CLASS PERIOD END: 05/25/2012
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Law Offices Of Joel Holt
    2132 Company Street, Suite 2, Law Offices Of Joel Holt 00820
    340-773-8079 340-773-8677 · holtvi@aol.com
  2. 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. New Jersey
DOCKET #: 14-CV-03620
JUDGE:
DATE FILED: 06/06/2014
CLASS PERIOD START: 01/24/2011
CLASS PERIOD END: 04/03/2012
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm (New Jersey)
    236 Tillou Road, The Rosen Law Firm (New Jersey), NJ 07079
    (973) 313-1887 (973) 833-0399 · lrosen@rosenlegal.com
No Document Title Filing Date