Case Page

 

Case Status:    SETTLED
On or around 07/10/2017 (Date of stipulation and/or agreement of settlement)

Filing Date: February 19, 2014

According to the law firm press release, Montage provides analog and mixed-signal semiconductor solutions. The Company specializes in analog and radio frequency solutions, digital signal processors and high speed interfaces. The complaint brings forth claims for violations of the Securities Exchange Act of 1934 and alleges that Montage issued materially false and misleading statements about its true financial condition by overstating revenue and earnings. On February 6, 2014, Gravity Research Group issued a report asserting, among others things, that Montage's largest distributor is a shell company used to fabricate the Company's financial results, and that the Company's largest customer is an undisclosed related party. The lawsuit claims that this adverse information caused the price of Montage securities to drop, damaging investors.

On April 24, 2014, this case was transferred to the Northern District of California.

On May 23, 2014, the Court issued an Order appointing lead plaintiff and approving the selection of lead counsel. Lead Plaintiff filed a consolidated and amended complaint on July 22.

On January 29, 2015, Pursuant to Civil Local Rule 7-1(b), the Court determined that this matter was appropriate for resolution without oral argument and VACATED the hearing. Subsequently, the Court DENIED the defendants' motion to dismiss.

On April 21, 2016, the Court granted the Motion for Class Certification.

On July 10, 2017, the Parties entered into a Stipulation of Settlement.

COMPANY INFORMATION:

Sector: Technology
Industry: Semiconductors
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MONT
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: N.D. California
DOCKET #: 14-CV-01036
JUDGE:
DATE FILED: 02/19/2014
CLASS PERIOD START: 09/26/2013
CLASS PERIOD END: 02/06/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Curtis V. Trinko LLP
    16 West 46th Street 7th Floor, Curtis V. Trinko LLP, NY 10036
    212.490.9550 212.986.0158 · ctrinko@trinko.com
  2. Ryan & Maniskas, LLP
    995 Old Eagle School Rd., Ste. 311, Ryan & Maniskas, LLP, PA 19087
    (484) 588-5516 (484) 450-2582 ·
  3. Saxena White PA (Boca Raton)
    2424 N. Federal Highway, Suite 257, Saxena White PA (Boca Raton), FL 33431
    561.394.3399 561.394.3399 ·
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 14-CV-00722
JUDGE:
DATE FILED: 07/22/2014
CLASS PERIOD START: 09/25/2013
CLASS PERIOD END: 02/06/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. THE ROSEN LAW FIRM, P.A. (New LA Location)
    355 South Grand Avenue, Suite 2450, THE ROSEN LAW FIRM, P.A. (New LA Location), CA 90071
    (213) 785-2610 (213) 226-4684 ·
No Document Title Filing Date