On or around 11/08/2017 (Date of order of distribution of settlement)
Filing Date: December 24, 2014
According to the law firm press release, the lawsuit alleges Roka’s offering documents in its IPO contained material misstatements because the Roka failed to disclose known trends and uncertainties about the drastic decline in demand for its Atlas instruments existing at the time of the IPO. On November 6, 2014, the Company announced a surprise loss of ($0.64) per share in the third quarter of 2014. The Company admitted that it had not placed any Atlas instruments in that quarter. That day, Roka’s stock price fell from $8.34 to $3.00, damaging investors.
On April 21, 2015, the Court issued an Order appointing lead plaintiff and approving lead counsel. Lead Plaintiff filed an amended complaint on June 23.
A Stipulation of Settlement was filed on May 20, 2016. This Settlement was preliminarily approved on June 28. On November 10, the Court issued an Order granting final approval of the Settlement and dismissing this case.
Company & Securities Information
Defendant: Roka Bioscience, Inc.
Industry: Medical Equipment & Supplies
Headquarters: United States
Ticker Symbol: ROKA
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.