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

According to the law firm press release, the Complaint alleges that Goldman Kurland and Mohidin, LLP, Deer's auditor, falsely stated that Deer's financial statements in its 2009 and 2010 10-Ks comported with U.S. Generally Accepted Accounting Principles. In reality, Deer's revenues were overstated. On March 9, 14, and 21, 2011, an analyst issued a series of reports disclosing Defendants’ alleged fraud, which caused the stock price to drop, damaging investors.

On May 31, 2013, pursuant to Section 21D(a)(3)(B) of the Exchange Act, 15 U.S.C.§78u-4(a)(3)(B), the De Sejournet Group was appointed Lead Plaintiff of the class, as the De Sejournet Group has the largest financial interest in this litigation and otherwise satisfies the requirements of Fed. R. Civ. P. 23. The De Sejournet Group’s choice of counsel was approved, and accordingly, the Rosen Law Firm, P.A. was appointed Lead Counsel.

On May 21, 2014, the Defendants’ Motion to Dismiss was Granted with leave to amend, Defendants’ Motion to Strike was DENIED as moot, and Plaintiffs’ Motion for Leave to File a Second Amended Complaint was DENIED as moot.

On September 30, 2015, the parties entered into a Stipulation of Settlement. The Settlement was preliminarily approved on November 3. On March 18, 2016, the Court granted final approval of the Settlement and dismissed this case.