On or around 08/30/2016 (Date of order of final judgment)
Filing Date: October 24, 2014
According to the law firm press release, the lawsuit alleges Blue Earth issued materially false and misleading financial information because the Company overstated the market potential of its UPStealth products. On October 21, 2014 a financial blog published a report on Blue Earth, which asserted, among other things, that the potential market for Blue Earth’s UPStealth product was unviable. The blog also revealed numerous red flags of potential fraud. On this news, shares of Blue Earth fell over 50% on October 21, 2014, damaging investors.
On November 3, 2015, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to replead. Plaintiffs filed an amended complaint on November 30.
On July 25, 2016, the Court issued an Order granting Defendants' Motion to Dismiss. Judgment in favor of Defendants was entered on August 30, and this case was closed.
Company & Securities Information
Defendant: Blue Earth, Inc.
Sector: Capital Goods
Industry: Misc. Capital Goods
Headquarters: United States
Ticker Symbol: BBLU
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.