On or around 06/04/2018 (Date of order of distribution of settlement)
Filing Date: April 18, 2014
According to the law firm press release, the lawsuit alleges that GrowLife issued materially false and misleading statements about its true financial condition. On April 10, 2014, the U.S. Securities and Exchange Commission (the "SEC") temporarily suspended trading of GrowLife securities. In suspending the trading of GrowLife securities, the SEC stated that "[t]he Commission temporarily suspended trading in the securities of PHOT because of questions that have been raised about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in PHOT's common stock."
On July 23, 2014, the Court issued an Order consolidating cases, appointing lead plaintiff, and approving lead counsel.
On March 26, 2015, the parties entered into a Stipulation of Settlement. The Settlement was preliminarily approved by the Court on April 27. On August 3, the Court granted final approval of the Settlement and entered Final Judgment. On June 4, 2018, the Court issued an Order granting the Motion for Distribution of Settlement funds.
Company & Securities Information
Defendant: GrowLife Inc.
Headquarters: United States
Ticker Symbol: PHOT
Company Market: OTCQB
Market Status: OTC
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.
First Identified Complaint
Randy Romero, et al. v. GrowLife Inc., et al.
COURT: C.D. California
DOCKET #: 14-CV-03015
JUDGE: Hon. Mariana R. Pfaelzer
DATE FILED: 04/18/2014
CLASS PERIOD START: 11/14/2013
CLASS PERIOD END: 04/09/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
First Identified Complaint (FIC) Filings:
Complaint for Violation of the Federal Securities Laws
Motion For Appointment Of Counsel And Appointment Of Lead Plaintiff, Motion To Consolidate Cases Filed By Movant Bryan Chong (Dkt. 12, Filed June 17, 2014) Motion For Appointment Of Counsel And Lead Plaintiff, Motion To Consolidate Cases Filed By Movant Larry Dempski (Dkt. 15, Filed June 17, 2014)
Notice Of Pendency And Settlement Of Class Action
Stipulation and Agreement of Settlement
Order Preliminarily Approving Settlement and Providing for Notice
Order and Final Judgment
Order Awarding Lead Plaintiffs' Counsel Attorneys' Fees and Reimbursing Expenses
U.S. District Court Civil Docket
Order Granting Motion for Distribution of Settlement Funds
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available