Case Page

 

Case Status:    SETTLED
On or around 05/08/2015 (Ongoing date of last review)

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.

COMPANY INFORMATION:

Sector: Conglomerates
Industry: Conglomerates
Headquarters: United States

SECURITIES INFORMATION:

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.
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:
No Document Title Filing Date