Case Page

 

Case Status:    SETTLED
On or around 11/24/2015 (Other)

Filing Date: December 28, 2012

According to the complaint, this is a federal securities class action brought on behalf of a class consisting of all persons and entities, other than defendants and their affiliates, who purchased the publicly traded common stock of Silvercorp Metals, Inc., from June 24, 2010, to September 13, 2011, inclusive (the "Class Period"). Throughout the Class Period, Silvercorp overstated the quality and quantity of its ore reserves. Silvercorp's own filings with the Chinese authorities demonstrated that it had lower production than its filings with the SEC. When the truth regarding the quantity and quality of Silvercorp's minerals production was disclosed, Silvercorp's stock price fell, damaging investors.

On April 12, 2013, the Court issued an Order appointing lead plaintiffs and approving the selection of lead counsel. The lead plaintiffs filed an amended complaint on June 11.

On August 2, 2013, the Court issued an Order granting the defendants' motion to dismiss with respect to the individual defendants, but denying the motion with respect to the issuer defendant.

On October 23, 2014, the parties entered into a Stipulation and Settlement Agreement. This Settlement was preliminarily approved by the Court on November 12. On February 13, 2015, the Court issued a Final Judgment and ordered this case dismissed.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Gold & Silver
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: SVM
Company Market: New York SE
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: S.D. New York
DOCKET #: 12-CV-09456
JUDGE:
DATE FILED: 12/28/2012
CLASS PERIOD START: 06/24/2010
CLASS PERIOD END: 09/13/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 12-CV-09456
JUDGE:
DATE FILED: 06/11/2013
CLASS PERIOD START: 05/20/2009
CLASS PERIOD END: 09/13/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Federman & Sherwood (Oklahoma City)
    10205 N. Pennsylvania, Federman & Sherwood (Oklahoma City), OK 73120
    405.235.1560 405.235.1560 ·
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  3. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
No Document Title Filing Date