Case Page

 

Case Status:    SETTLED
On or around 10/31/2017 (Ongoing date of last review)

Filing Date: May 01, 2014

According to the law firm press release, the lawsuit asserts violations of the federal securities laws against Lihua and certain of its officers and directors for issuing false and misleading statements about the Company's business and financial condition. The Complaint alleges that: (1) Lihua's business experienced a significant downturn starting from late 2012; (2) Lihua's production activities slowed down dramatically in 2013, and have almost ceased after January 31, 2014; (3) Lihua's warehouse has been seized by the local PRC court; (4) Defendant Jianhua Zhu, Lihua's Chairman and CEO, attempted to move inventory in order to hide them from creditors, and is now being investigated by the police for larceny.

On July 3, 2014, this case was transferred to the Southern District of New York.

On August 11, 2014, the Court issued an Order consolidating cases, appointing lead plaintiff, and approving lead counsel. This case was consolidated into Lead Case No. 14-cv- 5037.

Lead Plaintiff filed an amended complaint on October 23, 2014. This was followed by the filing of a second amended complaint on February 6, 2015.

On March 31, 2016, the Court issued an Order dismissing certain Defendants from this action.

On March 22, 2017, the parties entered into a Stipulation of Settlement. Preliminary approval was granted on July 21.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Iron & Steel
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: LIWA
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: S.D. New York
DOCKET #: 14-CV-03381
JUDGE: Hon. Percy Anderson
DATE FILED: 05/01/2014
CLASS PERIOD START: 08/09/2012
CLASS PERIOD END: 04/30/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 14-CV-05037
JUDGE: Hon. Percy Anderson
DATE FILED: 02/06/2015
CLASS PERIOD START: 08/09/2012
CLASS PERIOD END: 04/30/2014
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