Corporate Resource Services, Inc., through subsidiaries, offers permanent and temporary staffing, recruiting and consulting services.

According to the law firm press release, the lawsuit alleges Corporate Resource Services issued materially false and misleading statements to investors by failing to disclose that its co-employer, Tri-State Employment Services, Inc., had a material unpaid federal payroll tax liability, which would adversely impact the Company and the Company was not in compliance with the Account Purchase Agreements with Wells Fargo as of November 30, 2014. When the truth was revealed to investors, the price of Corporate Resource Services common stock dropped, damaging investors.

On May 26, 2015, this case was transferred to the Southern District of New York.

An amended Complaint was filed on August 14, 2015.

On July 5, 2016, the Court issued an Order granting the motions to dismiss of certain Defendants and denying the motions of other Defendants.

The remaining parties entered into a Stipulation of Settlement on May 31, 2017. Preliminary approval was granted on July 11, 2017. Final approval was granted on October 30.