Case Page

 

Case Status:    DISMISSED    
On or around 08/20/2015 (Date of order of final judgment)

Filing Date: May 20, 2014

According to the law firm press release, it is alleged that, starting in January 2013, ten Argentinean nationals deposited millions of unregistered Biozoom shares in accounts they opened with two US brokerage firms, in preparation for a pump-and-dump scheme, according to a case filed by the Securities and Exchange Commission (“SEC”) against the alleged perpetrators.

Starting on May 16, 2013, the Argentinean nationals started selling the unregistered, fraudulent Biozoom shares into the marketplace. A week later, Biozoom began publishing press releases claiming it had created the world’s first handheld diagnosing device, which could instantly measure a number of “biomarkers” of the human body. The press releases were published in the national media. Advertisements were broadcasted on certain radio stations.

On June 25, 2013, the Securities and Exchange Commission suspended the Biozoom shares from trading. In early July, 2013, the SEC filed a lawsuit against the alleged Biozoom pump-and-dump perpetrators, charging them with fraud.

On September 15, 2014, the Court issued an Order appointing lead plaintiff and approving the selection of lead counsel. Lead plaintiff filed an amended complaint three days later.

A third amended complaint was filed by the plaintiffs on April 29, 2015.

On August 20, 2015, the Court issued an Order granting Defendants' motion for summary judgment and closing this case.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: Germany

SECURITIES INFORMATION:

Ticker Symbol: BIZM
Company Market: OTC-BB
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. Ohio
DOCKET #: 14-CV-01087
JUDGE: Hon. James S. Gwin
DATE FILED: 05/20/2014
CLASS PERIOD START: 05/16/2013
CLASS PERIOD END: 06/25/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Peiffer Rosca Abdullah Carr & Kane LLC
    526 Superior Avenue, Suite 1255, Peiffer Rosca Abdullah Carr & Kane LLC, OH 44114
    216-589-9280 888-411-0038 ·
No Document Title Filing Date
COURT: N.D. Ohio
DOCKET #: 14-CV-01087
JUDGE: Hon. James S. Gwin
DATE FILED: 04/29/2015
CLASS PERIOD START: 05/16/2013
CLASS PERIOD END: 06/25/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Goldman Scarlato & Karon P.C.
    101 W. Elm Street, Suite 360, Goldman Scarlato & Karon P.C., PA 19428
    484.342.0700 484.342.0700 · info@gsk-law.com
  2. Peiffer Rosca Abdullah Carr & Kane LLC
    526 Superior Avenue, Suite 1255, Peiffer Rosca Abdullah Carr & Kane LLC, OH 44114
    216-589-9280 888-411-0038 ·
No Document Title Filing Date