Case Page

 

Case Status:    ONGOING    
On or around 04/06/2016 (Ongoing date of last review)

Filing Date: October 07, 2014

According to the law firm press release, the lawsuit alleges Textura made false and misleading statements and/or failed to disclose that: (1) the Company did not charge general contractors and subcontractors as many basis points for using its Construction Payment Management (‘‘CPM’’) as it claimed; (2) the Company overstated its total addressable market; and (3) as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times. The lawsuit claims that when these adverse facts entered the market through partial disclosures issued by Citron Research on December 26, 2013 and on September 29, 2014, the price of Textura stock dropped, damaging investors.

On December 16, 2014, the Court issued an Order appointing lead plaintiff and approving lead counsel. Lead Plaintiff filed an amended complaint on February 17, 2015.

On March 2, 2016, the Court issued an Order granting in part and denying in part Defendants' motion to dismiss. Plaintiffs were given leave to file an amended complaint, which they did on March 24.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TXTR
Company Market: New York SE
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. Illinois
DOCKET #: 14-CV-07837
JUDGE: Hon. Robert W. Gettleman
DATE FILED: 10/07/2014
CLASS PERIOD START: 08/07/2013
CLASS PERIOD END: 09/29/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Heffner Hurst
    30 North LaSalle Street, Heffner Hurst, IL 60602
    (312) 346-3466 (312) 346-2829 ·
  2. 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
COURT: N.D. Illinois
DOCKET #: 14-CV-07837
JUDGE: Hon. Robert W. Gettleman
DATE FILED: 03/24/2016
CLASS PERIOD START: 06/07/2013
CLASS PERIOD END: 01/07/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Heffner Hurst
    30 North LaSalle Street, Heffner Hurst, IL 60602
    (312) 346-3466 (312) 346-2829 ·
  2. 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