Case Page

 

Case Status:    DISMISSED    
On or around 09/10/2015 (Other)

Filing Date: September 06, 2012

According to the law firm press release, Zagg designs, manufactures and distributes branded protective coverings, audio accessories and power solutions for consumer electronic and hand-held devices.

The Complaint alleges that throughout the Class Period, Zagg made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, the Company made false and/or misleading statements and/or failed to disclose that: (i) the Company's founder and Chief Executive Officer ("CEO") had placed more than 50% of his Zagg ownership as collateral on margin, jeopardizing his future with the Company; (ii) as a result of the CEO's reckless actions, the Company began a secret succession plan to replace him; and (iii) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.

On March 7, 2013, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. On May 6, Lead Plaintiffs filed a consolidated Complaint. On July 5, Defendants filed Motions to Dismiss the consolidated Complaint.

On February 7, 2014, the Court granted Defendants' Motions to Dismiss. Lead Plaintiffs filed a Notice of Appeal on February 25. The Court of Appeals affirmed the District Court's decision on September 10, 2015.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Containers & Packaging
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ZAGG
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: D. Utah
DOCKET #: 12-CV-00852
JUDGE: Hon. Evelyn J. Furse
DATE FILED: 09/06/2012
CLASS PERIOD START: 02/28/2012
CLASS PERIOD END: 08/17/2012
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Anderson & Karrenberg
    700 Bank One Tower, 50 West Broadway, Anderson & Karrenberg, UT 84101
    801.534.1700 ·
  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: D. Utah
DOCKET #: 12-CV-00852
JUDGE: Hon. Evelyn J. Furse
DATE FILED: 05/06/2013
CLASS PERIOD START: 10/15/2010
CLASS PERIOD END: 08/17/2012
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz Grossman Hufford Dahlstrom & Gross LLP
    600 Third Avenue, Pomerantz Grossman Hufford Dahlstrom & Gross LLP, NY 10016
    212.661.1100 (212) 661-8665 ·
  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